Miller Wealth Advisors LLC trimmed its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.8% during the third quarter, HoldingsChannel.com reports. The fund owned 169,140 shares of the iPhone maker’s stock after selling 3,042 shares during the period. Apple makes up approximately 21.5% of Miller Wealth Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. Miller Wealth Advisors LLC’s holdings in Apple were worth $39,266,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Bull Oak Capital LLC raised its holdings in Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new stake in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc raised its holdings in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the period. Cordant Inc. raised its holdings in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the period. Finally, EMC Capital Management raised its holdings in Apple by 7.3% during the 3rd quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock worth $201,000 after buying an additional 61 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Sanford C. Bernstein lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research report on Friday, October 25th. Finally, Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $239.85.
Insider Buying and Selling at Apple
In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was 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 approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
Apple Stock Performance
NASDAQ:AAPL opened at $236.85 on Friday. The company has a market capitalization of $3.58 trillion, a PE ratio of 38.96, a P/E/G ratio of 2.41 and a beta of 1.20. The company has a 50 day simple moving average of $240.18 and a two-hundred day simple moving average of $229.95. 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 Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10.
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 EPS. Research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.
Apple Announces Dividend
The company 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.
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.
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