Parcion Private Wealth LLC Has $42.65 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Parcion Private Wealth LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the 3rd quarter, Holdings Channel reports. The firm owned 183,060 shares of the iPhone maker’s stock after selling 1,363 shares during the period. Apple makes up 3.5% of Parcion Private Wealth LLC’s holdings, making the stock its 8th largest holding. Parcion Private Wealth LLC’s holdings in Apple were worth $42,653,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. International Assets Investment Management LLC lifted its position in Apple by 20,372.7% during the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock worth $219,829,700,000 after purchasing an additional 93,886,664 shares during the period. Dimensional Fund Advisors LP grew its position in Apple by 5.5% in 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 acquiring an additional 2,785,807 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Apple by 6.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after purchasing an additional 3,245,281 shares in the last quarter. American Century Companies Inc. lifted its stake in Apple by 3.2% in 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 lifted its stake 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 valued at $4,214,222,000 after acquiring an additional 2,359,409 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Maxim Group upped their price objective on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a report on Friday, October 25th. UBS Group reiterated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Oppenheimer reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Two investment 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by corporate insiders.

Apple Trading Up 1.1 %

NASDAQ:AAPL opened at $258.20 on Thursday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $258.21. The firm’s 50 day moving average is $235.93 and its 200 day moving average is $226.77. The stock has a market capitalization of $3.90 trillion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. 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 released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company 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 was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.46 earnings per share. Sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 16.45%.

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.