Evergreen Wealth Management LLC Reduces Stock Position in Apple Inc. $AAPL

Evergreen Wealth Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 40.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,671 shares of the iPhone maker’s stock after selling 3,840 shares during the period. Evergreen Wealth Management LLC’s holdings in Apple were worth $1,164,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ryan Investment Management Inc. bought a new position in shares of Apple during the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Nexus Investment Management ULC boosted its stake in shares of Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after purchasing an additional 200 shares during the period. Elite Financial Inc. bought a new position in Apple during the 1st quarter valued at about $58,000. Finally, LSV Asset Management bought a new position in Apple during the 4th quarter valued at about $65,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $278.63 on Friday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $280.38. The business has a 50-day moving average price of $263.27 and a 200 day moving average price of $231.72. The company has a market capitalization of $4.12 trillion, a P/E ratio of 42.28, a PEG ratio of 2.62 and a beta of 1.09. 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 posted its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 EPS. As a group, equities research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued 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 currently 13.92%.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction dated 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 transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $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 available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 228,052 shares of company stock worth $58,604,588. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AAPL shares. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Wall Street Zen cut Apple from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Melius Research set a $345.00 target price on Apple in a research note on Friday, October 31st. 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. Finally, HSBC set a $220.00 price target on shares of Apple and gave the stock a “hold” rating in a report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus 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.