Apollon Wealth Management LLC Cuts Holdings in Apple Inc. $AAPL

Apollon Wealth Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 855,330 shares of the iPhone maker’s stock after selling 9,216 shares during the period. Apple accounts for approximately 3.5% of Apollon Wealth Management LLC’s holdings, making the stock its 3rd biggest holding. Apollon Wealth Management LLC’s holdings in Apple were worth $175,488,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. First National Bank of Hutchinson increased its stake in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC grew its holdings in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC grew its holdings in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its holdings in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 224,300 shares of company stock valued at $57,586,933. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

Shares of AAPL opened at $268.47 on Friday. The firm has a market capitalization of $3.98 trillion, a P/E ratio of 40.74, a PEG ratio of 2.62 and a beta of 1.08. 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 Inc. has a one year low of $169.21 and a one year high of $277.32. The business has a fifty day moving average of $252.25 and a 200 day moving average of $224.54.

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

Apple Announces Dividend

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

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Wedbush reissued an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a research report on Thursday, September 11th. TD Cowen increased their price objective on shares of Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, October 31st. UBS Group lifted their target price on shares of Apple from $220.00 to $280.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company set a $300.00 target price on shares of Apple and gave the stock an “overweight” rating in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $278.22.

About Apple

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.