Delap Wealth Advisory LLC Trims Stock Position in Apple Inc. $AAPL

Delap Wealth Advisory LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 89.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,928 shares of the iPhone maker’s stock after selling 15,721 shares during the period. Delap Wealth Advisory LLC’s holdings in Apple were worth $396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First National Bank of Hutchinson lifted its holdings in Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC lifted its stake in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after buying an additional 272 shares during the period. Brighton Jones LLC boosted its position in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE grew its stake in Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after acquiring an additional 1,155 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Tigress Financial upped their target price on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Melius upped their price objective on shares of Apple from $290.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, October 31st. The Goldman Sachs Group raised their target price on shares of Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Wall Street Zen cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Wells Fargo & Company set a $300.00 target price on Apple and gave the stock an “overweight” rating in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

Apple Stock Down 0.7%

NASDAQ AAPL opened at $273.33 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. The business has a 50 day moving average price of $254.61 and a two-hundred day moving average price of $226.08. The stock has a market cap of $4.04 trillion, a PE ratio of 41.48, a P/E/G ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 earnings per share. As a group, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal 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 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 yield of 0.4%. Apple’s dividend payout ratio is currently 13.92%.

Insider Activity

In other news, insider Chris Kondo sold 3,752 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the sale, the insider owned 15,098 shares of the company’s stock, valued at approximately $4,095,030.54. This trade represents a 19.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 228,052 shares of company stock worth $58,604,588 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.