WT Wealth Management cut its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 9.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,974 shares of the iPhone maker’s stock after selling 4,104 shares during the period. Apple comprises about 2.3% of WT Wealth Management’s holdings, making the stock its 7th largest holding. WT Wealth Management’s holdings in Apple were worth $9,394,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its stake in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Cordant Inc. grew its holdings in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares in the last quarter. Hoese & Co LLP increased its position in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. acquired a new stake in shares of Apple in the 2nd quarter valued at $206,000. 67.73% of the stock is owned by institutional investors and hedge funds.
Apple Trading Down 2.1 %
Shares of Apple stock opened at $248.05 on Thursday. The firm has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $254.28. The company’s 50-day simple moving average is $234.01 and its 200-day simple moving average is $224.89. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.
Apple Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.
Analysts Set New Price Targets
A number of equities analysts recently commented on AAPL shares. New Street Research reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Bank of America upped their price objective on Apple to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Maxim Group upped their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Citigroup raised their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $236.78.
Insiders Place Their Bets
In other news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 10.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 508,170 shares of company stock worth $117,004,745. Corporate insiders own 0.06% of the company’s stock.
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.
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