Rowlandmiller & PARTNERS.ADV Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Rowlandmiller & PARTNERS.ADV decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,280 shares of the iPhone maker’s stock after selling 1,003 shares during the quarter. Apple comprises 6.5% of Rowlandmiller & PARTNERS.ADV’s holdings, making the stock its largest holding. Rowlandmiller & PARTNERS.ADV’s holdings in Apple were worth $32,219,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. High Net Worth Advisory Group LLC lifted its position in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares in the last quarter. Granite Investment Partners LLC raised its stake in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp lifted its holdings in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC boosted its position in shares of Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after buying an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after buying an additional 95,235 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, 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 of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple 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 in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 over the last three months. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Evercore ISI restated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Bank of America increased their price objective on shares of Apple to $256.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Citigroup boosted their target price on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research reaffirmed a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Two investment 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Apple Stock Up 1.9 %

Shares of NASDAQ:AAPL opened at $254.49 on Monday. The company has a market cap of $3.85 trillion, a price-to-earnings ratio of 41.86, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a one year low of $164.07 and a one year high of $255.00. The firm has a fifty day moving average price of $234.97 and a two-hundred day moving average price of $225.70. 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 posted 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 period in the previous year, the business earned $1.46 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. Analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal 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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

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.