Apple Inc. $AAPL Holdings Cut by BXM Wealth LLC

BXM Wealth LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,951 shares of the iPhone maker’s stock after selling 326 shares during the period. Apple accounts for about 5.1% of BXM Wealth LLC’s investment portfolio, making the stock its largest position. BXM Wealth LLC’s holdings in Apple were worth $4,299,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Private Trust Co. NA boosted its position in Apple by 0.7% during the second quarter. Private Trust Co. NA now owns 142,338 shares of the iPhone maker’s stock worth $29,203,000 after acquiring an additional 1,028 shares during the last quarter. Angeles Wealth Management LLC lifted its stake in shares of Apple by 5.0% during the 2nd quarter. Angeles Wealth Management LLC now owns 139,836 shares of the iPhone maker’s stock worth $28,690,000 after purchasing an additional 6,690 shares during the period. Two West Capital Advisors LLC boosted its holdings in shares of Apple by 5.7% during the second quarter. Two West Capital Advisors LLC now owns 2,484 shares of the iPhone maker’s stock worth $531,000 after purchasing an additional 133 shares during the last quarter. Applied Finance Capital Management LLC boosted its holdings in shares of Apple by 1.4% during the second quarter. Applied Finance Capital Management LLC now owns 270,896 shares of the iPhone maker’s stock worth $55,576,000 after purchasing an additional 3,729 shares during the last quarter. Finally, Riverbend Wealth Management LLC grew its position in shares of Apple by 5.4% in the second quarter. Riverbend Wealth Management LLC now owns 22,910 shares of the iPhone maker’s stock valued at $4,701,000 after purchasing an additional 1,178 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AAPL. Rosenblatt Securities increased their target price on Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Barclays upped their price objective on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. BMO Capital Markets reissued a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. TD Cowen boosted their target price on shares of Apple from $275.00 to $325.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 price target (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Three investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction that occurred on 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 completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction that occurred on Thursday, October 16th. The shares were 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. This represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 228,052 shares of company stock worth $58,604,588. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $272.41 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market cap of $4.03 trillion, a PE ratio of 41.34, a P/E/G ratio of 2.62 and a beta of 1.09. The company’s fifty day simple moving average is $255.92 and its 200-day simple moving average is $226.95. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $277.32.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were paid a $0.26 dividend. The ex-dividend date was 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 13.92%.

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.