Catalyst Private Wealth LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 8.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,169 shares of the iPhone maker’s stock after selling 1,470 shares during the period. Apple comprises 1.8% of Catalyst Private Wealth LLC’s portfolio, making the stock its 16th largest holding. Catalyst Private Wealth LLC’s holdings in Apple were worth $2,942,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. Atlantic Private Wealth LLC purchased a new stake in Apple during the first quarter valued at approximately $30,000. Summit Wealth Group LLC increased its stake in shares of Apple by 16,252.3% in the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC increased its stake in shares of Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Apple by 12.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,103 shares of the iPhone maker’s stock worth $143,000 after purchasing an additional 123 shares in the last quarter. Finally, Clear Perspectives Financial Planning LLC increased its stake in shares of Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after purchasing an additional 211 shares in the last quarter. 58.51% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Apple
In related news, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the transaction, the senior vice president now owns 136,445 shares in the company, valued at approximately $24,363,619.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 240,569 shares of the 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 completion of the transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The disclosure for this sale can be found here. Insiders sold 455,004 shares of company stock valued at $79,238,767 in the last three months. 0.06% of the stock is owned by insiders.
Apple Stock Performance
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $81.79 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. On average, equities analysts forecast that Apple Inc. will post 6.05 EPS for the current fiscal year.
Apple Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s payout ratio is 16.13%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on AAPL. Morgan Stanley reissued an “overweight” rating and issued a $215.00 price objective on shares of Apple in a research note on Monday, September 25th. Credit Suisse Group restated an “outperform” rating and set a $220.00 target price on shares of Apple in a research report on Friday, September 15th. StockNews.com assumed coverage on shares of Apple in a research report on Thursday, October 5th. They set a “hold” rating for the company. Barclays restated an “equal weight” rating and set a $167.00 target price on shares of Apple in a research report on Monday. Finally, Citigroup restated a “buy” rating and set a $240.00 target price on shares of Apple in a research report on Friday, August 4th. Nine analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $200.54.
Read Our Latest Stock Analysis on AAPL
Apple Company 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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