Horizon Wealth Management LLC Has $12.70 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Horizon Wealth Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,525 shares of the iPhone maker’s stock after selling 2,941 shares during the quarter. Apple accounts for 2.5% of Horizon Wealth Management LLC’s holdings, making the stock its 14th largest holding. Horizon Wealth Management LLC’s holdings in Apple were worth $12,704,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Apple in the first quarter worth about $3,026,492,000. Strategic Financial Concepts LLC boosted its holdings in Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after acquiring an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after acquiring an additional 7,067,379 shares during the period. Lazard Asset Management LLC grew its stake in Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after purchasing an additional 5,405,542 shares during the period. Finally, William Blair Investment Management LLC bought a new stake in Apple in the 2nd quarter valued at about $834,368,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAPL. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and boosted their price target for the company from $205.00 to $212.92 in a research note on Monday, October 7th. UBS Group reissued a “neutral” rating and issued a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Rosenblatt Securities upped their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.68.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction 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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction 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 on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 0.1 %

Shares of AAPL opened at $242.84 on Monday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $244.63. The stock has a market cap of $3.67 trillion, a PE ratio of 39.94, a P/E/G ratio of 2.38 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The business’s 50-day moving average price is $230.53 and its 200-day moving average price is $221.83.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

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.