Continuum Wealth Advisors LLC Has $437,000 Position in Apple Inc. (NASDAQ:AAPL)

Continuum Wealth Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 28.5% during the third quarter, HoldingsChannel.com reports. The firm owned 1,876 shares of the iPhone maker’s stock after selling 746 shares during the period. Continuum Wealth Advisors LLC’s holdings in Apple were worth $437,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hershey Financial Advisers LLC acquired a new stake in Apple during the second quarter valued at $42,000. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares in the last quarter. Cordant Inc. raised its stake in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares in the last quarter. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. bought a new stake in shares of Apple in the 2nd quarter valued at approximately $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Tigress Financial lifted their price objective on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Moffett Nathanson decreased their price objective on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Maxim Group raised their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $236.78.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was 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 in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 in the last three months. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

Shares of AAPL stock opened at $247.96 on Friday. The firm has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.78, a P/E/G ratio of 2.42 and a beta of 1.23. The stock’s fifty day simple moving average is $231.63 and its 200 day simple moving average is $222.83. Apple Inc. has a one year low of $164.07 and a one year high of $250.80. 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 announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business 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 revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.46 EPS. On average, analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

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.