Syntegra Private Wealth Group LLC Reduces Position in Apple Inc. (NASDAQ:AAPL)

Syntegra Private Wealth Group LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,361 shares of the iPhone maker’s stock after selling 237 shares during the period. Apple comprises approximately 1.4% of Syntegra Private Wealth Group LLC’s portfolio, making the stock its 15th largest position. Syntegra Private Wealth Group LLC’s holdings in Apple were worth $11,967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB acquired a new position in shares of Apple during the 1st quarter worth about $3,026,492,000. Strategic Financial Concepts LLC lifted its stake in Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Apple in the second quarter valued at approximately $834,368,000. Ameriprise Financial Inc. increased its stake in Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after purchasing an additional 3,245,281 shares during the last quarter. Finally, Tairen Capital Ltd acquired a new stake in Apple during the second quarter worth approximately $588,952,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AAPL shares. Barclays dropped their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. UBS Group reiterated a “neutral” rating and set a $236.00 target price on shares of Apple in a research report on Monday, December 2nd. Loop Capital decreased their target price on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Apple in a research report on Friday, November 29th. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have assigned 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, Apple presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Apple Stock Performance

AAPL opened at $254.49 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $255.00. The stock has a market cap of $3.85 trillion, a P/E ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23. The stock’s 50 day simple moving average is $234.97 and its 200 day simple moving average is $225.48. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates 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 business posted $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock worth $117,004,745 over the last ninety days. 0.06% of the stock is currently owned by insiders.

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.