Greenwich Wealth Management LLC Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Greenwich Wealth Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 204,811 shares of the iPhone maker’s stock after selling 488 shares during the quarter. Apple comprises approximately 3.1% of Greenwich Wealth Management LLC’s portfolio, making the stock its 5th largest holding. Greenwich Wealth Management LLC’s holdings in Apple were worth $43,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of AAPL. Fidelis Capital Partners LLC lifted its holdings in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the period. Access Investment Management LLC purchased a new stake in Apple during the first quarter valued at $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. Sage Financial Group Inc. bought a new position in Apple in the second quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC purchased a new position in Apple in the second quarter worth about $208,000. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Performance

NASDAQ AAPL opened at $222.91 on Friday. The stock has a market capitalization of $3.39 trillion, a PE ratio of 33.93, a P/E/G ratio of 2.45 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The business has a 50 day simple moving average of $227.18 and a two-hundred day simple moving average of $212.33. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.15. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. On average, research analysts predict that Apple Inc. will post 6.6 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 15.22%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AAPL shares. The Goldman Sachs Group upped their price target on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Bank of America reiterated a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Raymond James lifted their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.23.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently 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.