Apple Inc. (NASDAQ:AAPL) Shares Sold by Silverlake Wealth Management LLC

Silverlake Wealth Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.3% in the third quarter, HoldingsChannel.com reports. The fund owned 49,943 shares of the iPhone maker’s stock after selling 3,904 shares during the quarter. Apple accounts for 4.4% of Silverlake Wealth Management LLC’s holdings, making the stock its 2nd biggest position. Silverlake Wealth Management LLC’s holdings in Apple were worth $11,637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Atwater Malick LLC grew its holdings in Apple by 1.3% during the 3rd quarter. Atwater Malick LLC now owns 111,726 shares of the iPhone maker’s stock worth $26,032,000 after acquiring an additional 1,443 shares during the period. Perfromance Wealth Partners LLC grew its holdings in Apple by 0.9% during the 3rd quarter. Perfromance Wealth Partners LLC now owns 4,160,187 shares of the iPhone maker’s stock worth $969,324,000 after acquiring an additional 38,892 shares during the period. Level Financial Advisors acquired a new stake in Apple during the 3rd quarter worth about $2,158,000. Lloyd Advisory Services LLC. grew its holdings in Apple by 7.9% during the 3rd quarter. Lloyd Advisory Services LLC. now owns 8,908 shares of the iPhone maker’s stock worth $2,075,000 after acquiring an additional 656 shares during the period. Finally, First Affirmative Financial Network grew its holdings in Apple by 19.4% during the 3rd quarter. First Affirmative Financial Network now owns 27,252 shares of the iPhone maker’s stock worth $6,350,000 after acquiring an additional 4,432 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AAPL shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Monday, November 25th. Tigress Financial raised their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Rosenblatt Securities raised their target price on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Two investment 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated 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 represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock worth $92,007,745 over the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Price Performance

AAPL stock opened at $237.33 on Friday. The firm’s 50-day moving average price is $229.02 and its two-hundred day moving average price is $219.81. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.81. The stock has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.30 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

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.