Precision Wealth Strategies LLC Sells 113 Shares of Apple Inc. (NASDAQ:AAPL)

Precision Wealth Strategies LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,690 shares of the iPhone maker’s stock after selling 113 shares during the quarter. Apple accounts for about 0.8% of Precision Wealth Strategies LLC’s investment portfolio, making the stock its 23rd largest holding. Precision Wealth Strategies LLC’s holdings in Apple were worth $860,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hershey Financial Advisers LLC bought a new stake in Apple in the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc grew its holdings in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Cordant Inc. grew its holdings in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after acquiring an additional 173 shares during the last quarter. Hoese & Co LLP boosted its stake 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 purchasing an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. bought a new stake in shares of Apple during the 2nd quarter valued at about $206,000. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AAPL. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Tigress Financial lifted their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Melius Research reissued a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Two 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 issued a strong buy rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

Shares of AAPL stock opened at $253.48 on Wednesday. The company has a 50 day moving average price of $233.64 and a 200-day moving average price of $224.73. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $253.83. The firm has a market capitalization of $3.83 trillion, a PE ratio of 41.69, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

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, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during 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 firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given 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 0.39%. Apple’s dividend payout ratio (DPR) is 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.