Home Service company Apple Inc. (NASDAQ:AAPL) Stock Position Reduced by Wealth Enhancement Advisory Services LLC

Apple Inc. (NASDAQ:AAPL) Stock Position Reduced by Wealth Enhancement Advisory Services LLC

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Wealth Enhancement Advisory Services LLC reduced its stake in shares of Apple Inc. (NASDAQ: AAPL – Get Rating) by 0.4% during the first quarter, Holdings Channel reports. The company held 227,906 shares of the iPhone maker after selling 993 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Apple were worth $40,663,000 when it last filed with the Securities and Exchange Commission.

Several other institutional investors have also recently changed their positions in AAPL. Cardinal Capital Management Inc. increased its position in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker valued at $39,000 after acquiring 221 additional shares during the period. Shore Point Advisors LLC acquired a new stake in Apple in Q4 valued at approximately $41,000. St. James Investment Advisors LLC acquired a new stake in Apple in Q4 valued at around $57,000. Econ Financial Services Corp acquired a new stake in Apple in Q4 valued at around $58,000. Finally, Castle Financial & Retirement Planning Associates Inc. acquired a new stake in Apple in Q4 valued at approximately $116,000. Institutional investors and hedge funds hold 57.98% of the company‘s shares.

In related news, SVP Katherine L. Adams sold 25,000 shares of the company in a trade on Wednesday, May 4. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following completion of the transaction, the senior vice president now directly owns 452,334 shares of the company, valued at approximately $73,151,454.48. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, SVP Deirdre O’brien sold 8,000 shares of the company in a trade on Monday, April 18. The stock was sold at an average price of $164.91, for a total transaction of $1,319,280.00. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares of the company, valued at $22,475,583.90. The disclosure of this sale can be found here. 0.06% of the shares are currently held by insiders.

AAPL shares opened at $142.92 on Thursday. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 23.20, a growth price-to-earnings ratio of 1.82 and a beta of 1.19. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt ratio of 1.53. The company has a fifty-day moving average of $144.35 and a 200-day moving average of $160.38.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly results on Thursday, April 28. The iPhone maker reported earnings per share (EPS) of $1.52 for the quarter, beating the consensus estimate of $1.43 by $0.09. The company posted revenue of $97.28 billion in the quarter, versus analyst estimates of $93.99 billion. Apple had a net margin of 26.41% and a return on equity of 152.88%. The company’s revenue increased 8.6% year over year. In the same quarter of the previous year, the company achieved EPS of $1.40. Research analysts expect Apple Inc. to post earnings per share of 6.1 for the current year.

Apple said its board approved a stock repurchase program on Thursday, April 28 that allows the company to repurchase $90.00 billion in stock. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its shares through open market purchases. Share buyback programs often indicate that the company’s board of directors believe its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12. Investors of record on Monday, May 9 received a dividend of $0.23. The ex-dividend date was Friday, May 6. This is a positive change from Apple’s previous quarterly dividend of $0.22. This represents a dividend of $0.92 on an annualized basis and a yield of 0.64%. Apple’s dividend payout ratio is currently 14.94%.

A number of stock analysts have released reports on AAPL shares. Sanford C. Bernstein set a price target of $170.00 on Apple in a Monday, May 2 research note. Barclays set a price target of $167.00 on Apple in a research note on Tuesday, June 7. Deutsche Bank Rese… set a price target of $210.00 on Apple in a Friday, April 8 research note. Evercore ISI reduced its price target on Apple from $210.00 to $180.00 and set an “outperform” rating for the company in a Tuesday, June 28 research note. Finally, Morgan Stanley cut its price target on Apple from $195.00 to $185.00 and set an “overweight” rating for the company in a Tuesday, June 14 research note. Nine analysts gave the stock a hold rating, twenty-four gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $184.83.

Apple Company Profile (Get an assessment)

Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories worldwide. It also sells various related services. Additionally, the company offers iPhone, a range of smartphones; Mac, a line of personal computers; iPad, a range of versatile tablets; AirPods Max, an over-ear wireless headset; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products, HomePod and iPod touch.

Further reading

Want to see which other hedge funds hold AAPLs? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Apple Inc. (NASDAQ:AAPL – Get Rating).

Institutional ownership by quarter for Apple (NASDAQ:AAPL)



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