ACT Wealth Management LLC Sells 1,842 Shares of Apple Inc. $AAPL

ACT Wealth Management LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,943 shares of the iPhone maker’s stock after selling 1,842 shares during the period. Apple accounts for about 2.2% of ACT Wealth Management LLC’s portfolio, making the stock its 12th largest holding. ACT Wealth Management LLC’s holdings in Apple were worth $6,351,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its position in Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the period. Norges Bank acquired a new position in shares of Apple during the 2nd quarter worth approximately $38,942,255,000. Nuveen LLC acquired a new position in shares of Apple during the 1st quarter worth approximately $17,472,482,000. PKS Advisory Services LLC increased its holdings in shares of Apple by 98,917.0% during the second quarter. PKS Advisory Services LLC now owns 57,956,620 shares of the iPhone maker’s stock worth $12,106,000 after purchasing an additional 57,898,088 shares during the period. Finally, Laurel Wealth Advisors LLC raised its position in shares of Apple by 20,464.8% in the second quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after buying an additional 26,937,401 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AAPL shares. DZ Bank raised Apple from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research report on Tuesday, November 4th. Wells Fargo & Company set a $300.00 target price on Apple and gave the company an “overweight” rating in a research report on Friday, October 31st. Wall Street Zen lowered Apple from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Jefferies Financial Group restated a “hold” rating and issued a $283.36 price target on shares of Apple in a research report on Wednesday. Finally, Barclays upped their price objective on shares of Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $283.92.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction 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. This trade represents a 20.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 228,052 shares of company stock worth $58,604,588. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $272.19 on Friday. The stock has a market cap of $4.02 trillion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 2.54 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86. The company has a 50 day simple moving average of $269.59 and a 200 day simple moving average of $238.81. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $288.62.

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

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio is currently 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.