Perigon Wealth Management LLC Has $271.43 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Perigon Wealth Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% during the third quarter, HoldingsChannel.com reports. The firm owned 1,164,950 shares of the iPhone maker’s stock after selling 14,621 shares during the quarter. Apple makes up about 7.2% of Perigon Wealth Management LLC’s portfolio, making the stock its largest holding. Perigon Wealth Management LLC’s holdings in Apple were worth $271,433,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Apple by 5.5% during the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after buying an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares during the last quarter. Capital International Investors lifted its position in Apple by 7.1% in the 1st 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. boosted its stake in Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after purchasing an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB increased its holdings in shares of Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Up 1.6 %

AAPL stock opened at $246.75 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $247.24. The business has a 50 day simple moving average of $230.80 and a two-hundred day simple moving average of $222.26. The company has a market capitalization of $3.73 trillion, a price-to-earnings ratio of 40.58, a PEG ratio of 2.38 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 earnings per share. Research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend yield of 0.41%. Apple’s payout ratio is 16.45%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AAPL. Moffett Nathanson dropped their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. UBS Group restated a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Loop Capital reduced their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $236.78.

Insider Transactions at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. This represents a 10.87 % 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 Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by insiders.

About Apple

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.