ICA Group Wealth Management LLC Has $5.89 Million Stake in Apple Inc. (NASDAQ:AAPL)

ICA Group Wealth Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 60.5% in the second quarter, Holdings Channel reports. The institutional investor owned 27,982 shares of the iPhone maker’s stock after selling 42,878 shares during the quarter. Apple accounts for about 3.5% of ICA Group Wealth Management LLC’s holdings, making the stock its 5th biggest position. ICA Group Wealth Management LLC’s holdings in Apple were worth $5,893,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Capital International Investors increased its position in shares of Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after acquiring an additional 2,474,887 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Apple by 3.2% in the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after purchasing an additional 1,065,759 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Swedbank AB lifted its holdings in shares of Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after purchasing an additional 2,359,409 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Apple by 16.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after buying an additional 2,594,138 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Cfra boosted their target price on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Robert W. Baird boosted their price objective on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Piper Sandler Companies reissued a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.23.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 1.3 %

Shares of AAPL opened at $222.91 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a 50 day simple moving average of $227.18 and a two-hundred day simple moving average of $212.33. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a market cap of $3.39 trillion, a P/E ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.15. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $1.46 earnings per share. On average, equities analysts expect that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is 15.22%.

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.