CarsonAllaria Wealth Management Ltd. Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

CarsonAllaria Wealth Management Ltd. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 13,144 shares of the iPhone maker’s stock after selling 75 shares during the period. Apple makes up about 1.7% of CarsonAllaria Wealth Management Ltd.’s holdings, making the stock its 18th largest holding. CarsonAllaria Wealth Management Ltd.’s holdings in Apple were worth $2,768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Christopher J. Hasenberg Inc purchased a new stake in shares of Apple in the 1st quarter valued at approximately $35,000. Fidelis Capital Partners LLC raised its position in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple in the fourth quarter valued at approximately $39,000. University of Texas Texas AM Investment Managment Co. lifted its stake in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in shares of Apple during the fourth quarter worth $85,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Tigress Financial lifted their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a report on Tuesday, June 11th. Barclays reduced their target price on shares of Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday. Finally, The Goldman Sachs Group increased their price objective on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $239.17.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 in the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $228.20 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. The stock’s 50 day moving average is $222.41 and its two-hundred day moving average is $200.19. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The firm has a market capitalization of $3.50 trillion, a PE ratio of 35.49, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 earnings per share. Research analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

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.