Geometric Wealth Advisors Has $4.11 Million Position in Apple Inc. (NASDAQ:AAPL)

Geometric Wealth Advisors lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 17,632 shares of the iPhone maker’s stock after selling 444 shares during the quarter. Apple comprises approximately 0.8% of Geometric Wealth Advisors’ holdings, making the stock its 7th largest position. Geometric Wealth Advisors’ holdings in Apple were worth $4,108,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Gibraltar Capital Management Inc. lifted its stake in shares of Apple by 3.1% in the 3rd quarter. Gibraltar Capital Management Inc. now owns 67,005 shares of the iPhone maker’s stock worth $15,612,000 after acquiring an additional 2,036 shares during the period. Signature Wealth Management Partners LLC lifted its position in Apple by 0.3% in the third quarter. Signature Wealth Management Partners LLC now owns 53,028 shares of the iPhone maker’s stock worth $12,356,000 after purchasing an additional 154 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Apple by 93.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 229,378 shares of the iPhone maker’s stock valued at $53,445,000 after purchasing an additional 110,776 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. increased its position in shares of Apple by 39.5% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 43,098 shares of the iPhone maker’s stock valued at $10,042,000 after purchasing an additional 12,204 shares during the period. Finally, Smith Group Asset Management LLC raised its stake in shares of Apple by 5.1% in the 3rd quarter. Smith Group Asset Management LLC now owns 248,496 shares of the iPhone maker’s stock worth $57,900,000 after buying an additional 12,130 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $255.59 on Monday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $237.41 and a 200 day simple moving average of $227.89. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The firm has a market cap of $3.86 trillion, a P/E ratio of 42.04, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced 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. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company earned $1.46 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced 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 0.39%. Apple’s payout ratio is presently 16.45%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AAPL. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Citigroup increased their target price on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Tuesday, December 10th. Finally, Oppenheimer reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $237.47.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm’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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 15,419 shares in the company, 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. In the last quarter, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is currently owned by insiders.

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.