Leo Wealth LLC Has $32.44 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Leo Wealth LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 1.7% during the third quarter, HoldingsChannel.com reports. The fund owned 139,213 shares of the iPhone maker’s stock after selling 2,414 shares during the period. Apple accounts for 3.0% of Leo Wealth LLC’s portfolio, making the stock its 7th largest holding. Leo Wealth LLC’s holdings in Apple were worth $32,437,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AAPL. Hershey Financial Advisers LLC acquired a new position in Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its stake in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares in the last quarter. Cordant Inc. raised its holdings in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares during the last quarter. Hoese & Co LLP lifted its position in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. bought a new stake in Apple during the 2nd quarter worth about $206,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’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 value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 508,170 shares of company stock valued at $117,004,745. Insiders own 0.06% of the company’s stock.

Apple Stock Down 2.1 %

AAPL opened at $248.05 on Thursday. 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’s fifty day simple moving average is $234.01 and its 200 day simple moving average is $224.89. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $254.28. The stock has a market cap of $3.75 trillion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share. As a group, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid 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 0.40%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Analysts Set New Price Targets

Several research analysts have issued reports on AAPL shares. Loop Capital reduced their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. UBS Group restated a “neutral” rating and set a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Bank of America upped their price target on Apple to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Melius Research restated a “buy” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Finally, Wells Fargo & Company increased their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

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.