Denver PWM LLC Sells 226 Shares of Apple Inc. (NASDAQ:AAPL)

Denver PWM LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 5.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,149 shares of the iPhone maker’s stock after selling 226 shares during the period. Denver PWM LLC’s holdings in Apple were worth $874,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AAPL. Access Investment Management LLC bought a new position in shares of Apple in the 1st quarter worth $140,000. Hoese & Co LLP lifted its stake in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in Apple in the second quarter valued at approximately $206,000. Benchmark Wealth Management LLC purchased a new stake in Apple during the 2nd quarter valued at $208,000. Finally, Sequent Asset Management LLC bought a new position in shares of Apple during the second quarter valued at about $214,000. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Apple news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by insiders.

Apple Stock Up 0.6 %

Shares of NASDAQ:AAPL opened at $236.48 on Tuesday. The stock has a market cap of $3.63 trillion, a P/E ratio of 36.78, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The business’s 50 day moving average is $226.16 and its 200 day moving average is $208.86.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating 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 business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared 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 0.42%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of several research analyst reports. Raymond James raised their target price on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Thursday, September 19th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Maxim Group reissued a “hold” rating and issued a $203.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

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.