Westover Capital Advisors LLC Sells 2,383 Shares of Apple Inc. (NASDAQ:AAPL)

Westover Capital Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 108,497 shares of the iPhone maker’s stock after selling 2,383 shares during the period. Apple makes up about 5.9% of Westover Capital Advisors LLC’s holdings, making the stock its largest holding. Westover Capital Advisors LLC’s holdings in Apple were worth $22,852,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Bellwether Advisors LLC grew its position in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after acquiring an additional 19,352 shares during the period. Gentry Private Wealth LLC acquired a new position in Apple during the second quarter worth approximately $876,000. WT Asset Management Ltd acquired a new stake in shares of Apple in the second quarter valued at approximately $80,057,000. TD Asset Management Inc boosted its stake in shares of Apple by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after acquiring an additional 1,557,848 shares during the period. Finally, Councilmark Asset Management LLC acquired a new position in shares of Apple during the 1st quarter worth approximately $11,776,000. Institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research analyst reports. TD Cowen increased their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price objective (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. Finally, Raymond James boosted their target price on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.91.

Apple Trading Down 1.8 %

NASDAQ AAPL opened at $225.91 on Friday. 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 $237.49. The business has a 50 day moving average price of $227.26 and a 200-day moving average price of $211.69. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.26 earnings per share. As a group, equities analysts expect that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio is currently 15.22%.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Apple news, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated 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 sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s 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 completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The trade was 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 valued at $114,786,399 over the last ninety days. 0.06% of the stock is currently owned by insiders.

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.