Walter & Keenan Wealth Management LLC IN ADV Has $21.64 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Walter & Keenan Wealth Management LLC IN ADV lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% during the third quarter, HoldingsChannel reports. The firm owned 92,894 shares of the iPhone maker’s stock after selling 413 shares during the period. Apple comprises approximately 6.6% of Walter & Keenan Wealth Management LLC IN ADV’s portfolio, making the stock its 2nd biggest holding. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Apple were worth $21,644,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. Strategic Financial Concepts LLC raised its holdings in Apple by 14,145.8% during the 2nd 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 period. Pathway Financial Advisers LLC boosted its holdings in shares of Apple by 22,870.6% in the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after acquiring an additional 5,566,250 shares during the period. William Blair Investment Management LLC purchased a new position in shares of Apple in the second quarter valued at $834,368,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after purchasing an additional 3,245,281 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,170 shares of company stock worth $117,004,745. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 1.3 %

NASDAQ AAPL opened at $252.20 on Tuesday. The stock has a market cap of $3.81 trillion, a PE ratio of 41.48, a P/E/G ratio of 2.41 and a beta of 1.23. 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 Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The stock’s 50 day moving average is $237.41 and its 200 day moving average is $227.89.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the firm earned $1.46 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Loop Capital reduced their target price on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Bank of America raised their price target on shares of Apple to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. 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, Wedbush boosted their target price on Apple from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, December 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.47.

Apple 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.