Pure Financial Advisors LLC Has $39.39 Million Stake in Apple Inc. (NASDAQ:AAPL)

Pure Financial Advisors LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 169,060 shares of the iPhone maker’s stock after selling 1,213 shares during the period. Apple makes up 0.9% of Pure Financial Advisors LLC’s holdings, making the stock its 22nd largest position. Pure Financial Advisors LLC’s holdings in Apple were worth $39,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AAPL. High Net Worth Advisory Group LLC grew its holdings in shares of Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares in the last quarter. Granite Investment Partners LLC boosted its position in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp grew its stake in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC raised its holdings in shares of Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its position in shares of Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays decreased their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Citigroup raised their price objective on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Maxim Group boosted their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.03.

Apple Stock Performance

Shares of Apple stock opened at $243.36 on Monday. The company’s 50 day moving average price is $238.91 and its two-hundred day moving average price is $229.08. The firm has a market capitalization of $3.68 trillion, a P/E ratio of 40.03, a P/E/G ratio of 2.41 and a beta of 1.20. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. 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 (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

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.