Apple Inc. (NASDAQ:AAPL) Stake Reduced by WESPAC Advisors SoCal LLC

WESPAC Advisors SoCal LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 20.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,529 shares of the iPhone maker’s stock after selling 19,608 shares during the quarter. Apple accounts for 4.0% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 6th largest holding. WESPAC Advisors SoCal LLC’s holdings in Apple were worth $16,119,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gould Asset Management LLC CA raised its holdings in shares of Apple by 11.7% in the 4th quarter. Gould Asset Management LLC CA now owns 29,864 shares of the iPhone maker’s stock valued at $5,750,000 after buying an additional 3,119 shares during the period. Semanteon Capital Management LP purchased a new stake in shares of Apple in the 4th quarter valued at $1,162,000. Evolution Advisers Inc. raised its holdings in shares of Apple by 145.1% in the 4th quarter. Evolution Advisers Inc. now owns 5,490 shares of the iPhone maker’s stock valued at $1,019,000 after buying an additional 3,250 shares during the period. Motley Fool Asset Management LLC raised its holdings in shares of Apple by 5.7% in the 4th quarter. Motley Fool Asset Management LLC now owns 434,160 shares of the iPhone maker’s stock valued at $83,589,000 after buying an additional 23,379 shares during the period. Finally, AM Investment Strategies LLC raised its holdings in shares of Apple by 0.7% in the 4th quarter. AM Investment Strategies LLC now owns 360,159 shares of the iPhone maker’s stock valued at $69,341,000 after buying an additional 2,544 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AAPL shares. Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a report on Monday, September 9th. Bank of America restated a “buy” rating and set a $256.00 price target on shares of Apple in a report on Thursday, September 5th. StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, September 20th. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Tuesday, September 10th. Finally, DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is owned by company insiders.

Apple Stock Up 0.4 %

Shares of NASDAQ AAPL opened at $227.37 on Wednesday. The stock has a market cap of $3.49 trillion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The business has a 50-day moving average price of $222.10 and a 200 day moving average price of $201.22.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the prior year, the firm earned $1.26 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s payout ratio is 15.55%.

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.