Arista Wealth Management LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,480 shares of the iPhone maker’s stock after selling 200 shares during the quarter. Apple accounts for 2.1% of Arista Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Arista Wealth Management LLC’s holdings in Apple were worth $5,136,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in AAPL. Atlantic Private Wealth LLC bought a new position in shares of Apple during the first quarter valued at $30,000. Summit Wealth Group LLC lifted its holdings in shares of Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 6,949,659 shares during the period. HBC Financial Services PLLC lifted its holdings in shares of Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. Clear Perspectives Financial Planning LLC lifted its holdings in shares of Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after acquiring an additional 211 shares during the period. Finally, Magellan Asset Management Ltd lifted its holdings in shares of Apple by 10.6% during the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock valued at $181,000 after acquiring an additional 127 shares during the period. 58.51% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Apple
In other news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the transaction, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 455,004 shares of company stock worth $79,238,767. Insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on AAPL. Tigress Financial raised their price objective on shares of Apple from $210.00 to $225.00 in a report on Friday, June 23rd. Citigroup restated a “buy” rating and set a $240.00 target price on shares of Apple in a report on Friday, August 4th. Bank of America restated a “neutral” rating and set a $208.00 target price on shares of Apple in a report on Friday, September 22nd. Credit Suisse Group restated an “outperform” rating and set a $220.00 target price on shares of Apple in a report on Friday, September 15th. Finally, Piper Sandler increased their target price on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. Nine investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.40.
Check Out Our Latest Report on AAPL
Apple Price Performance
Shares of AAPL opened at $175.84 on Thursday. The firm has a market capitalization of $2.75 trillion, a PE ratio of 29.55, a P/E/G ratio of 2.40 and a beta of 1.28. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23. The stock has a 50 day simple moving average of $177.94 and a 200 day simple moving average of $178.77. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. The business had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. Sell-side analysts predict that Apple Inc. will post 6.05 EPS for the current fiscal year.
Apple Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio (DPR) is currently 16.13%.
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.
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