Atticus Wealth Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,334 shares of the iPhone maker’s stock after selling 1,209 shares during the period. Apple comprises approximately 3.9% of Atticus Wealth Management LLC’s holdings, making the stock its 4th biggest position. Atticus Wealth Management LLC’s holdings in Apple were worth $10,539,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Atlantic Private Wealth LLC bought a new stake in Apple during the 1st quarter worth approximately $30,000. Summit Wealth Group LLC grew its holdings in Apple by 16,252.3% during the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after buying an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC grew its holdings in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC grew its holdings in Apple by 27.3% during the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 211 shares in the last quarter. Finally, Magellan Asset Management Ltd grew its holdings in Apple by 10.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock valued at $181,000 after buying an additional 127 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.
Insider Activity at Apple
In related news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction dated 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 completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The disclosure for this sale can be found here. Insiders sold 455,004 shares of company stock worth $79,238,767 over the last three months. 0.06% of the stock is owned by corporate insiders.
Apple Stock Down 1.5 %
Apple (NASDAQ:AAPL – Get Free Report) last released its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same period last year, the company earned $1.20 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 6.05 EPS for the current year.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.56%. Apple’s payout ratio is currently 16.13%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of Apple from $185.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Apple in a report on Wednesday, September 13th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $198.00 price objective on shares of Apple in a report on Tuesday, September 12th. Jefferies Financial Group cut their price objective on shares of Apple from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, August 4th. Finally, UBS Group reissued a “neutral” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, September 27th. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.40.
Read Our Latest Report 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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