AAF Wealth Management LLC Sells 657 Shares of Apple Inc. (NASDAQ:AAPL)

AAF Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 3.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 20,540 shares of the iPhone maker’s stock after selling 657 shares during the period. Apple comprises about 2.2% of AAF Wealth Management LLC’s investment portfolio, making the stock its 11th largest position. AAF Wealth Management LLC’s holdings in Apple were worth $4,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. A.P. Gilfoyle & Co. L.P. bought a new position in Apple during the fourth quarter worth $39,000. Access Investment Management LLC bought a new position in shares of Apple during the 1st quarter worth about $140,000. Hoese & Co LLP grew its stake in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the period. Benchmark Wealth Management LLC acquired a new position in Apple during the 2nd quarter worth approximately $208,000. Finally, Sequent Asset Management LLC acquired a new position in Apple during the 2nd quarter worth approximately $214,000. 60.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Wedbush reissued an “outperform” rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Thursday, September 19th. Finally, The Goldman Sachs Group raised 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, thirteen have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $239.27.

Apple Price Performance

AAPL opened at $231.30 on Tuesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The stock’s 50 day moving average price is $224.06 and its 200-day moving average price is $206.60. The stock has a market capitalization of $3.55 trillion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insider Buying and Selling at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s 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 completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 517,924 shares of company stock valued at $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple Company 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.