TrueWealth Advisors LLC Sells 292 Shares of Apple Inc. (NASDAQ:AAPL)

TrueWealth Advisors LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 12,376 shares of the iPhone maker’s stock after selling 292 shares during the period. Apple comprises about 1.0% of TrueWealth Advisors LLC’s investment portfolio, making the stock its 23rd largest holding. TrueWealth Advisors LLC’s holdings in Apple were worth $2,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in shares of Apple by 20,372.7% during 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after buying an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. lifted its position 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 worth $10,909,457,000 after buying an additional 3,245,281 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after buying an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB boosted its stake in shares of Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after buying an additional 2,359,409 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Evercore ISI restated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Finally, Loop Capital dropped their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Two equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $238.03.

Insiders Place Their Bets

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

Apple Trading Up 0.7 %

Shares of AAPL stock opened at $245.00 on Tuesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The business’s fifty day moving average is $239.15 and its 200 day moving average is $229.33. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.70 trillion, a PE ratio of 40.30, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last released its quarterly earnings results 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 firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the firm posted $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate 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. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.41%. Apple’s payout ratio is presently 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.