Beverly Hills Private Wealth LLC Sells 970 Shares of Apple Inc. (NASDAQ:AAPL)

Beverly Hills Private Wealth LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 0.8% in the second quarter, HoldingsChannel.com reports. The fund owned 116,625 shares of the iPhone maker’s stock after selling 970 shares during the quarter. Apple accounts for approximately 5.3% of Beverly Hills Private Wealth LLC’s portfolio, making the stock its biggest holding. Beverly Hills Private Wealth LLC’s holdings in Apple were worth $24,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AAPL. Fidelis Capital Partners LLC boosted its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the period. Access Investment Management LLC acquired a new stake in shares of Apple during the 1st quarter worth about $140,000. Hoese & Co LLP boosted its holdings in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the period. Sage Financial Group Inc. acquired a new position in Apple in the 2nd quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC bought a new position in Apple in the 2nd quarter valued at about $208,000. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Moffett Nathanson assumed coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $261.00 target price on shares of Apple in a research report on Tuesday, September 10th. Maxim Group restated a “hold” rating and issued a $203.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $235.91.

Apple Trading Up 0.1 %

Shares of NASDAQ AAPL opened at $233.67 on Wednesday. The firm has a 50 day moving average price of $227.15 and a two-hundred day moving average price of $211.46. The stock has a market cap of $3.58 trillion, a P/E ratio of 36.34, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

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, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during 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%. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.26 EPS. As a group, equities analysts forecast that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s payout ratio is 15.55%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was 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 of the company’s stock, 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. Company insiders own 0.06% of the company’s stock.

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.