Apple Inc. (NASDAQ:AAPL) Holdings Lowered by Smallwood Wealth Investment Management LLC

Smallwood Wealth Investment Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 44,690 shares of the iPhone maker’s stock after selling 221 shares during the quarter. Apple comprises 7.4% of Smallwood Wealth Investment Management LLC’s investment portfolio, making the stock its 2nd largest holding. Smallwood Wealth Investment Management LLC’s holdings in Apple were worth $10,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Verus Financial Partners Inc. raised its stake in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares during the last quarter. Brown Financial Advisory increased its holdings in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares in the last quarter. Core Wealth Management Inc. raised its position in Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the last quarter. Lowery Thomas LLC lifted its stake in Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after acquiring an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Trading Up 1.6 %

AAPL stock opened at $246.75 on Tuesday. The firm has a fifty day moving average price of $230.80 and a 200 day moving average price of $222.26. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $247.24. The firm has a market cap of $3.73 trillion, a PE ratio of 40.58, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS 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 during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the company posted $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts anticipate 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. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AAPL shares. Rosenblatt Securities increased their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wedbush reissued an “outperform” rating and set a $300.00 price target on shares of Apple in a report on Friday, November 29th. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Citigroup increased their target price on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by company insiders.

Apple Company 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.