GenWealth Group Inc. Sells 247 Shares of Apple Inc. (NASDAQ:AAPL)

GenWealth Group Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,420 shares of the iPhone maker’s stock after selling 247 shares during the quarter. GenWealth Group Inc.’s holdings in Apple were worth $2,195,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Norges Bank bought a new position in Apple during the 4th quarter worth about $33,912,466,000. Vanguard Group Inc. lifted its holdings in shares of Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after purchasing an additional 18,067,216 shares in the last quarter. Swedbank AB acquired a new position in shares of Apple during the first quarter worth about $3,026,492,000. Global Assets Advisory LLC grew its holdings in shares of Apple by 23,076.4% during the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after buying an additional 9,200,345 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after buying an additional 7,067,379 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday. Sanford C. Bernstein increased their target price on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Raymond James raised their target price on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Moffett Nathanson initiated coverage on shares of Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target on the stock. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $238.62.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 0.1 %

Shares of AAPL opened at $222.50 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The firm’s 50 day moving average is $223.14 and its 200-day moving average is $198.52. The stock has a market capitalization of $3.38 trillion, a PE ratio of 34.60, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company earned $1.26 EPS. Equities research analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

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.