Atlas Private Wealth Advisors Sells 2,417 Shares of Apple Inc. $AAPL

Atlas Private Wealth Advisors cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,569 shares of the iPhone maker’s stock after selling 2,417 shares during the period. Apple accounts for 2.5% of Atlas Private Wealth Advisors’ portfolio, making the stock its 13th biggest position. Atlas Private Wealth Advisors’ holdings in Apple were worth $19,199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Baker Boyer National Bank boosted its position in Apple by 0.3% during the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock valued at $3,695,000 after acquiring an additional 47 shares in the last quarter. Salus Financial Advisors LLC lifted its stake in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after purchasing an additional 49 shares during the period. Red Tortoise LLC boosted its position in shares of Apple by 0.9% during the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after purchasing an additional 49 shares in the last quarter. SigFig Wealth Management LLC grew its stake in Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after purchasing an additional 50 shares during the period. Finally, Shariaportfolio Inc. raised its holdings in Apple by 1.3% in the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions 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 value of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over 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

A number of brokerages have recently commented on AAPL. Bank of America boosted their target price on shares of Apple from $270.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. upped their price objective on shares of Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Wall Street Zen downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Sunday, November 9th. TD Cowen boosted their price target on Apple from $275.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Argus set a $325.00 price objective on Apple and gave the company a “buy” rating in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.53.

Apple Price Performance

AAPL opened at $286.19 on Wednesday. The company’s 50-day simple moving average is $264.45 and its two-hundred day simple moving average is $232.89. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. The stock has a market capitalization of $4.23 trillion, a P/E ratio of 38.31, a P/E/G ratio of 2.64 and a beta of 1.10. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $287.40.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.64 earnings per share. As a group, analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently declared 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. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

Apple 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.