Apple Inc. (NASDAQ:AAPL) Shares Sold by 1858 Wealth Management LLC

1858 Wealth Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 3.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 32,093 shares of the iPhone maker’s stock after selling 1,023 shares during the quarter. Apple accounts for 6.4% of 1858 Wealth Management LLC’s holdings, making the stock its largest holding. 1858 Wealth Management LLC’s holdings in Apple were worth $8,037,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Amara Financial LLC. purchased a new stake in shares of Apple during the 3rd quarter valued at about $288,000. Sterling Investment Counsel LLC boosted its holdings in Apple by 3.8% in the 3rd 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 period. Silicon Valley Capital Partners grew its position in Apple by 12.8% in the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock valued at $59,122,000 after acquiring an additional 28,799 shares in the last quarter. Catalyst Financial Partners LLC raised its stake in shares of Apple by 4.2% during the third quarter. Catalyst Financial Partners LLC now owns 96,589 shares of the iPhone maker’s stock valued at $22,505,000 after purchasing an additional 3,935 shares during the period. Finally, Narwhal Capital Management lifted its position in shares of Apple by 2.5% during the third quarter. Narwhal Capital Management now owns 276,791 shares of the iPhone maker’s stock worth $64,492,000 after purchasing an additional 6,711 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several recent analyst reports. Citigroup raised their target price on Apple from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Sanford C. Bernstein raised their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Raymond James upped their target price on Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. Jefferies Financial Group reiterated an “underperform” rating on shares of Apple in a research note on Wednesday, February 19th. Finally, UBS Group lifted their price target on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $245.26.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 35,493 shares of Apple stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $224.01, for a total transaction of $7,950,786.93. Following the completion of the transaction, the chief operating officer now directly owns 390,059 shares of the company’s stock, valued at $87,377,116.59. This trade represents a 8.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 38,822 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $223.67, for a total transaction of $8,683,316.74. Following the sale, the senior vice president now directly owns 179,158 shares in the company, valued at $40,072,269.86. This represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,451 shares of company stock worth $40,818,720 over the last three months. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 9.2 %

AAPL opened at $203.19 on Friday. The firm has a market cap of $3.05 trillion, a P/E ratio of 32.25, a price-to-earnings-growth ratio of 2.44 and a beta of 1.18. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The business has a 50 day moving average price of $230.14 and a 200 day moving average price of $233.15. Apple Inc. has a twelve month low of $164.08 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Research analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.49%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Apple 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.