Atlas Private Wealth Advisors Trims Stock Position in Apple Inc. (NASDAQ:AAPL)

Atlas Private Wealth Advisors cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 97,372 shares of the iPhone maker’s stock after selling 79 shares during the period. Apple accounts for approximately 3.3% of Atlas Private Wealth Advisors’ portfolio, making the stock its 9th biggest position. Atlas Private Wealth Advisors’ holdings in Apple were worth $22,689,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kelly Financial Services LLC raised its stake in shares of Apple by 2.3% in the 3rd quarter. Kelly Financial Services LLC now owns 17,147 shares of the iPhone maker’s stock valued at $3,995,000 after purchasing an additional 382 shares during the period. TL Private Wealth raised its stake in shares of Apple by 3.9% in the 3rd quarter. TL Private Wealth now owns 3,583 shares of the iPhone maker’s stock valued at $794,000 after purchasing an additional 133 shares during the period. USA Financial Formulas raised its stake in shares of Apple by 24,100.0% in the 3rd quarter. USA Financial Formulas now owns 7,260 shares of the iPhone maker’s stock valued at $1,692,000 after purchasing an additional 7,230 shares during the period. Wedmont Private Capital raised its stake in shares of Apple by 12.2% in the 3rd quarter. Wedmont Private Capital now owns 229,507 shares of the iPhone maker’s stock valued at $50,879,000 after purchasing an additional 24,928 shares during the period. Finally, Marcum Wealth LLC raised its stake in shares of Apple by 0.7% in the 3rd quarter. Marcum Wealth LLC now owns 91,734 shares of the iPhone maker’s stock valued at $21,374,000 after purchasing an additional 674 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on AAPL shares. UBS Group lifted their price target on Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Barclays lowered their target price on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

Apple Stock Down 0.1 %

NASDAQ AAPL opened at $234.93 on Thursday. The business has a fifty day moving average price of $228.71 and a two-hundred day moving average price of $219.12. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The stock has a market capitalization of $3.55 trillion, a PE ratio of 38.64, a PEG ratio of 2.28 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 earnings per share. Equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s payout ratio is 16.45%.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was 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 directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last three months. 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.