Apple Inc. (NASDAQ:AAPL) Shares Sold by Schneider Downs Wealth Management Advisors LP

Schneider Downs Wealth Management Advisors LP trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 25.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,518 shares of the iPhone maker’s stock after selling 9,907 shares during the period. Apple comprises 1.4% of Schneider Downs Wealth Management Advisors LP’s holdings, making the stock its 17th largest position. Schneider Downs Wealth Management Advisors LP’s holdings in Apple were worth $6,878,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Kinsale Capital Group Inc. raised its position in shares of Apple by 15.1% in the third quarter. Kinsale Capital Group Inc. now owns 35,774 shares of the iPhone maker’s stock worth $8,335,000 after acquiring an additional 4,705 shares during the period. Turtle Creek Wealth Advisors LLC raised its holdings in Apple by 4.6% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 66,556 shares of the iPhone maker’s stock worth $15,508,000 after purchasing an additional 2,909 shares during the period. SRS Capital Advisors Inc. boosted its position in Apple by 1.4% during the third quarter. SRS Capital Advisors Inc. now owns 69,853 shares of the iPhone maker’s stock worth $16,276,000 after purchasing an additional 932 shares in the last quarter. Evergreen Wealth Management LLC grew its holdings in Apple by 21.6% in the third quarter. Evergreen Wealth Management LLC now owns 14,366 shares of the iPhone maker’s stock valued at $3,347,000 after purchasing an additional 2,549 shares during the period. Finally, Heritage Investment Group Inc. increased its position in shares of Apple by 22.3% in the third quarter. Heritage Investment Group Inc. now owns 21,443 shares of the iPhone maker’s stock valued at $4,996,000 after buying an additional 3,905 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AAPL shares. Monness Crespi & Hardt increased their target price on Apple to $245.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America reiterated a “buy” rating and issued a $253.00 target price (down previously from $256.00) on shares of Apple in a research report on Friday. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Tuesday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $238.05.

Apple Price Performance

Shares of AAPL opened at $222.78 on Friday. The firm has a 50-day simple moving average of $240.97 and a two-hundred day simple moving average of $230.72. The stock has a market cap of $3.35 trillion, a PE ratio of 36.64, a P/E/G ratio of 2.19 and a beta of 1.20. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. 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 (NASDAQ:AAPL) last posted its quarterly earnings data 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 analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. As a group, analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is presently 16.45%.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate 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.