ShoreHaven Wealth Partners LLC Has $5.46 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

ShoreHaven Wealth Partners LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,935 shares of the iPhone maker’s stock after selling 487 shares during the period. Apple comprises about 2.9% of ShoreHaven Wealth Partners LLC’s portfolio, making the stock its 10th biggest position. ShoreHaven Wealth Partners LLC’s holdings in Apple were worth $5,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC increased its stake in Apple by 3.2% in the second quarter. Cornerstone Wealth Group LLC now owns 231,621 shares of the iPhone maker’s stock valued at $48,784,000 after purchasing an additional 7,245 shares in the last quarter. JB Capital LLC lifted its holdings in Apple by 14.0% during the second quarter. JB Capital LLC now owns 150,216 shares of the iPhone maker’s stock worth $31,638,000 after acquiring an additional 18,429 shares during the period. LVZ Inc. increased its holdings in Apple by 21.5% during the second quarter. LVZ Inc. now owns 23,892 shares of the iPhone maker’s stock worth $5,032,000 after buying an additional 4,234 shares during the last quarter. Pathway Financial Advisors LLC lifted its position in shares of Apple by 0.5% during the 2nd quarter. Pathway Financial Advisors LLC now owns 21,243 shares of the iPhone maker’s stock valued at $4,474,000 after buying an additional 104 shares during the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. increased its stake in shares of Apple by 7.4% in the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 11,422 shares of the iPhone maker’s stock worth $2,406,000 after purchasing an additional 787 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value 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 $39,542,136.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,884 shares of company stock worth $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AAPL shares. Barclays lowered their price target on shares of Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 target price (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Wedbush reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday. Finally, Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $238.76.

Apple Price Performance

NASDAQ AAPL opened at $227.52 on Friday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 35.38, a PEG ratio of 2.66 and a beta of 1.24. The stock has a 50-day moving average of $222.05 and a 200 day moving average of $201.39. Apple Inc. has a one year low of $164.07 and a one year high of $237.23.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share 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 company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the prior year, the company earned $1.26 earnings per share. Apple’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. 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.