Element Pointe Advisors LLC Sells 1,841 Shares of Apple Inc. $AAPL

Element Pointe Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 10.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,775 shares of the iPhone maker’s stock after selling 1,841 shares during the quarter. Apple accounts for 0.8% of Element Pointe Advisors LLC’s portfolio, making the stock its 16th biggest holding. Element Pointe Advisors LLC’s holdings in Apple were worth $3,237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Financial Futures Ltd Liability Co. lifted its position in shares of Apple by 13.2% during the second quarter. Financial Futures Ltd Liability Co. now owns 3,552 shares of the iPhone maker’s stock worth $729,000 after purchasing an additional 415 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares in the last quarter. American National Bank & Trust lifted its stake in shares of Apple by 2.4% during the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after purchasing an additional 4,543 shares during the last quarter. Riverwater Partners LLC boosted its holdings in shares of Apple by 17.9% in the 2nd quarter. Riverwater Partners LLC now owns 5,404 shares of the iPhone maker’s stock valued at $1,109,000 after buying an additional 819 shares in the last quarter. Finally, Andina Capital Management LLC grew its holdings in Apple by 209.2% in the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 0.1%

Shares of NASDAQ AAPL opened at $278.28 on Monday. The business’s 50 day moving average is $268.24 and its two-hundred day moving average is $237.28. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $288.62. The firm has a market cap of $4.11 trillion, a price-to-earnings ratio of 37.25, a PEG ratio of 2.60 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPL) last released its earnings results 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 company had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.Apple’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 EPS. Research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 228,052 shares of company stock valued at $58,604,588 over the last quarter. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AAPL shares. HSBC set a $220.00 price objective on shares of Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. Sanford C. Bernstein set a $325.00 price objective on shares of Apple in a research report on Monday, November 3rd. Bank of America boosted their price target on shares of Apple from $270.00 to $320.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Melius lifted their price target on Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Tigress Financial increased their price objective on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.51.

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.