FRG Family Wealth Advisors LLC Lowers Stake in Apple Inc. (NASDAQ:AAPL)

FRG Family Wealth Advisors LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 99,527 shares of the iPhone maker’s stock after selling 247 shares during the period. Apple comprises 3.0% of FRG Family Wealth Advisors LLC’s holdings, making the stock its 7th biggest holding. FRG Family Wealth Advisors LLC’s holdings in Apple were worth $20,625,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AAPL. Chesapeake Capital Corp IL bought a new position in shares of Apple during the 2nd quarter worth approximately $690,000. Provident Investment Management Inc. raised its stake in Apple by 26.0% during the second quarter. Provident Investment Management Inc. now owns 9,099 shares of the iPhone maker’s stock worth $1,916,000 after acquiring an additional 1,877 shares in the last quarter. Sachetta LLC lifted its holdings in shares of Apple by 0.8% during the second quarter. Sachetta LLC now owns 33,016 shares of the iPhone maker’s stock valued at $7,224,000 after acquiring an additional 260 shares during the period. Bright Futures Wealth Management LLC. boosted its stake in shares of Apple by 0.8% in the 2nd quarter. Bright Futures Wealth Management LLC. now owns 39,672 shares of the iPhone maker’s stock valued at $8,722,000 after purchasing an additional 304 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in shares of Apple by 9.1% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 190,739 shares of the iPhone maker’s stock worth $40,173,000 after purchasing an additional 15,851 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Trading Up 0.4 %

AAPL opened at $231.41 on Monday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The firm has a market cap of $3.55 trillion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. 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 firm’s fifty day moving average is $226.86 and its two-hundred day moving average is $210.64.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS 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 business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the business posted $1.26 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AAPL shares. TD Cowen boosted their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Thursday, September 19th. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and raised their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Finally, UBS Group restated a “hold” rating and issued a $236.00 target price on shares of Apple in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have given a buy rating and one has given 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 $235.91.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by corporate insiders.

Apple 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.