Apple Inc. (NASDAQ:AAPL) is Selective Wealth Management Inc.’s 8th Largest Position

Selective Wealth Management Inc. lifted its holdings in Apple Inc. (NASDAQ:AAPL) by 29.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,389 shares of the iPhone maker’s stock after purchasing an additional 6,385 shares during the quarter. Apple accounts for about 2.7% of Selective Wealth Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Selective Wealth Management Inc.’s holdings in Apple were worth $6,409,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Swedbank AB bought a new stake in shares of Apple in the first quarter worth $3,026,492,000. Strategic Financial Concepts LLC grew its holdings in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after acquiring an additional 7,067,379 shares during the period. Lazard Asset Management LLC grew its holdings in shares of Apple by 161.2% in the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after acquiring an additional 5,405,542 shares during the period. Finally, William Blair Investment Management LLC bought a new stake in shares of Apple in the second quarter worth $834,368,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $234.93 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.55 trillion, a P/E ratio of 38.64, a P/E/G ratio of 2.28 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The business’s 50-day moving average is $228.83 and its 200 day moving average is $219.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’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 sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 35.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on AAPL. UBS Group lifted their price objective on Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. The Goldman Sachs Group lifted their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Moffett Nathanson cut their price target on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Bank of America reissued a “buy” rating and set a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. Finally, Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and boosted their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $235.25.

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.