West Wealth Group LLC Has $10.07 Million Position in Apple Inc. (NASDAQ:AAPL)

West Wealth Group LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 47,808 shares of the iPhone maker’s stock after selling 189 shares during the period. Apple makes up 3.6% of West Wealth Group LLC’s investment portfolio, making the stock its 10th largest position. West Wealth Group LLC’s holdings in Apple were worth $10,069,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Apple by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the period. Swedbank AB purchased a new position in shares of Apple during the first quarter valued at approximately $3,026,492,000. Global Assets Advisory LLC grew its position in Apple by 23,076.4% in the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after purchasing an additional 9,200,345 shares during the period. Canada Pension Plan Investment Board boosted its position in Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in shares of Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction 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 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and increased their price objective for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price target on shares of Apple in a research note on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Thursday, September 19th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Finally, New Street Research reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

Apple Stock Performance

NASDAQ AAPL opened at $233.85 on Wednesday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The business’s 50-day moving average price is $224.59 and its 200 day moving average price is $207.04. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $3.59 trillion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s payout ratio is currently 15.55%.

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.