Beverly Hills Private Wealth LLC Has $21.87 Million Position in Apple Inc. $AAPL

Beverly Hills Private Wealth LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,613 shares of the iPhone maker’s stock after selling 6,946 shares during the quarter. Apple comprises about 4.1% of Beverly Hills Private Wealth LLC’s portfolio, making the stock its 2nd biggest holding. Beverly Hills Private Wealth LLC’s holdings in Apple were worth $21,874,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after acquiring an additional 5,005,297 shares during the period. Kingstone Capital Partners Texas LLC raised its holdings in shares of Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. Northern Trust Corp lifted its stake in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Apple by 14.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Apple by 1.0% during the first quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock worth $21,790,933,000 after buying an additional 984,157 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AAPL. Citigroup reaffirmed a “buy” rating and issued a $315.00 price objective (up from $245.00) on shares of Apple in a research report on Friday, October 31st. BMO Capital Markets restated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. DA Davidson raised their price target on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Evercore ISI lifted their price objective on shares of Apple from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, UBS Group increased their price objective on shares of Apple from $220.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. 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 issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $278.22.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This represents a 32.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 228,052 shares of company stock valued at $58,604,588 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 0.0%

AAPL stock opened at $267.44 on Wednesday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.95 trillion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.62 and a beta of 1.09. The business’s fifty day moving average price is $257.18 and its two-hundred day moving average price is $227.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings results 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 business had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same period in the prior year, the company posted $1.64 earnings per share. Apple’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 13.92%.

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.