Twelve Points Wealth Management LLC Has $4.31 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Twelve Points Wealth Management LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 2.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 18,513 shares of the iPhone maker’s stock after selling 513 shares during the quarter. Apple accounts for 1.4% of Twelve Points Wealth Management LLC’s investment portfolio, making the stock its 12th largest holding. Twelve Points Wealth Management LLC’s holdings in Apple were worth $4,314,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Verus Financial Partners Inc. grew its position in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares during the last quarter. Brown Financial Advisory grew its holdings in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after buying an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its position in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the period. Lowery Thomas LLC lifted its holdings in shares of Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares during the period. 60.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Friday, November 1st. Moffett Nathanson lowered their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 19th. Citigroup upped their target price on Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Melius Research reissued a “buy” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $235.68.

Apple Stock Performance

Shares of AAPL opened at $242.84 on Monday. The firm’s fifty day simple moving average is $230.53 and its two-hundred day simple moving average is $221.83. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $244.63. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $3.67 trillion, a P/E ratio of 39.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the firm posted $1.46 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s payout ratio is presently 16.45%.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

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.