Shira Ridge Wealth Management Has $6.89 Million Position in Apple Inc. (NASDAQ:AAPL)

Shira Ridge Wealth Management decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 29,579 shares of the iPhone maker’s stock after selling 129 shares during the period. Apple makes up 3.5% of Shira Ridge Wealth Management’s portfolio, making the stock its 7th largest holding. Shira Ridge Wealth Management’s holdings in Apple were worth $6,892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. China Universal Asset Management Co. Ltd. grew its position in Apple by 127.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after buying an additional 42,282 shares during the period. Empowered Funds LLC boosted its stake in Apple by 37.5% in the 1st quarter. Empowered Funds LLC now owns 278,379 shares of the iPhone maker’s stock worth $47,736,000 after purchasing an additional 75,939 shares during the period. Capital Wealth Planning LLC grew its stake in Apple by 3,199.9% during the first quarter. Capital Wealth Planning LLC now owns 1,666,108 shares of the iPhone maker’s stock valued at $285,704,000 after acquiring an additional 1,615,618 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Apple by 7.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 1,010,341 shares of the iPhone maker’s stock valued at $173,253,000 after buying an additional 73,898 shares in the last quarter. Finally, Avalon Trust Co raised its stake in Apple by 7.5% during the first quarter. Avalon Trust Co now owns 465,766 shares of the iPhone maker’s stock valued at $79,870,000 after purchasing an additional 32,639 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Stock Up 1.0 %

Apple stock opened at $239.59 on Tuesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $240.79. The stock has a market capitalization of $3.62 trillion, a PE ratio of 39.41, a price-to-earnings-growth ratio of 2.33 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50 day simple moving average of $229.02 and a 200-day simple moving average of $220.02.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 EPS. On average, analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. Barclays lowered their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Maxim Group boosted their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Moffett Nathanson cut their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Apple in a research report on Friday. Finally, UBS Group restated a “neutral” rating and set a $236.00 price objective on shares of Apple in a report on Monday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.68.

Insider Activity

In other Apple news, 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 transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last three months. Insiders own 0.06% of the company’s stock.

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.