Wagner Wealth Management LLC Sells 3,024 Shares of Apple Inc. (NASDAQ:AAPL)

Wagner Wealth Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 10.8% during the 3rd quarter, Holdings Channel reports. The fund owned 25,082 shares of the iPhone maker’s stock after selling 3,024 shares during the period. Apple comprises 1.6% of Wagner Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. Wagner Wealth Management LLC’s holdings in Apple were worth $5,844,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Granite Investment Partners LLC boosted its stake in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the period. Truist Financial Corp boosted its position in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after acquiring an additional 95,235 shares in the last quarter. CHICAGO TRUST Co NA grew its stake in Apple by 15.2% in the third quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after purchasing an additional 19,670 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Apple by 34.9% during the third quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock valued at $46,650,000 after acquiring an additional 51,842 shares during the last quarter. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AAPL. Rosenblatt Securities raised their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Melius Research reissued a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and increased their price objective for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Finally, Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $235.68.

Apple Trading Up 1.0 %

NASDAQ AAPL opened at $239.59 on Tuesday. The company’s fifty day simple moving average is $229.02 and its 200-day simple moving average is $220.02. The stock has a market cap of $3.62 trillion, a P/E ratio of 39.41, a PEG ratio of 2.33 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $240.79. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’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 transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

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.