Etesian Wealth Advisors Inc. Trims Holdings in Apple Inc. $AAPL

Etesian Wealth Advisors Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,435 shares of the iPhone maker’s stock after selling 186 shares during the quarter. Apple comprises approximately 2.4% of Etesian Wealth Advisors Inc.’s investment portfolio, making the stock its 10th biggest holding. Etesian Wealth Advisors Inc.’s holdings in Apple were worth $6,450,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Total Wealth Planning & Management Inc. boosted its stake in Apple by 7.4% during the 2nd quarter. Total Wealth Planning & Management Inc. now owns 14,718 shares of the iPhone maker’s stock worth $3,020,000 after acquiring an additional 1,014 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in Apple by 1.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,063,957 shares of the iPhone maker’s stock valued at $218,292,000 after buying an additional 12,778 shares in the last quarter. WMG Financial Advisors LLC lifted its stake in Apple by 1.7% in the second quarter. WMG Financial Advisors LLC now owns 28,613 shares of the iPhone maker’s stock valued at $5,871,000 after buying an additional 483 shares in the last quarter. Coordinated Financial Services Inc. bought a new position in Apple in the second quarter valued at approximately $554,000. Finally, Moseley Investment Management Inc. lifted its stake in Apple by 4.7% in the second quarter. Moseley Investment Management Inc. now owns 72,373 shares of the iPhone maker’s stock valued at $14,849,000 after buying an additional 3,258 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $270.04 on Wednesday. Apple Inc. has a one year low of $169.21 and a one year high of $277.32. The company has a market cap of $4.01 trillion, a P/E ratio of 40.98, a P/E/G ratio of 2.62 and a beta of 1.09. The firm’s fifty day moving average price is $249.99 and its two-hundred day moving average price is $223.37. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the previous year, the company earned $1.64 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be paid a $0.26 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is 13.92%.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Sanford C. Bernstein set a $325.00 price target on shares of Apple in a research note on Monday. JPMorgan Chase & Co. lifted their price target on shares of Apple from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Melius Research set a $345.00 price target on shares of Apple in a research note on Friday. Finally, Argus set a $325.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $278.22.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.