Apple Inc. (NASDAQ:AAPL) Stock Holdings Lowered by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the third quarter, Holdings Channel reports. The fund owned 44,159 shares of the iPhone maker’s stock after selling 134 shares during the quarter. Apple makes up about 4.0% of Palumbo Wealth Management LLC’s holdings, making the stock its 5th biggest holding. Palumbo Wealth Management LLC’s holdings in Apple were worth $10,289,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. High Net Worth Advisory Group LLC grew its holdings in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Granite Investment Partners LLC boosted its position in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares during the last quarter. Truist Financial Corp grew its stake in shares of Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring an additional 126,210 shares in the last quarter. Sterling Investment Counsel LLC increased its position in shares of Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its stake in shares of Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after acquiring an additional 95,235 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AAPL shares. Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Friday, December 13th. Oppenheimer reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Rosenblatt Securities increased their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Finally, Moffett Nathanson reduced their target price on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, twelve have given 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 an average rating of “Moderate Buy” and an average target price of $237.47.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s 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 $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,435 shares of company stock valued at $39,376,002 over the last three months. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 0.7 %

Apple stock opened at $250.42 on Thursday. The company’s 50-day moving average price is $238.41 and its two-hundred day moving average price is $228.58. The stock has a market cap of $3.79 trillion, a price-to-earnings ratio of 41.19, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. 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 posted 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 business had revenue of $94.93 billion for 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%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the business earned $1.46 earnings per share. On average, analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.40%. Apple’s dividend payout ratio is currently 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.