Apple Inc. $AAPL Stock Holdings Reduced by Bernard Wealth Management Corp.

Bernard Wealth Management Corp. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,440 shares of the iPhone maker’s stock after selling 4,524 shares during the quarter. Apple accounts for approximately 8.3% of Bernard Wealth Management Corp.’s portfolio, making the stock its 3rd largest holding. Bernard Wealth Management Corp.’s holdings in Apple were worth $17,940,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ryan Investment Management Inc. acquired a new stake in Apple in the second quarter valued at $31,000. ROSS JOHNSON & Associates LLC raised its stake in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the last quarter. Elite Financial Inc. purchased a new stake in shares of Apple in the 1st quarter worth about $58,000. LSV Asset Management acquired a new stake in Apple in the 4th quarter valued at about $65,000. Finally, HFM Investment Advisors LLC purchased a new position in Apple during the 1st quarter valued at about $99,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 0.1%

Shares of Apple stock opened at $269.77 on Friday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. The business’s fifty day moving average is $251.53 and its two-hundred day moving average is $224.02. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm has a market cap of $4.00 trillion, a PE ratio of 40.94, a P/E/G ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 13.92%.

Analyst Ratings Changes

Several brokerages have issued reports on AAPL. Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a report on Wednesday, October 1st. Melius Research set a $345.00 price objective on Apple in a research report on Friday, October 31st. HSBC set a $220.00 target price on Apple and gave the company a “hold” rating in a report on Monday, September 8th. Argus set a $325.00 price target on Apple and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Cowen restated a “buy” rating on shares of Apple in a research report on Monday, October 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $278.22.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 224,300 shares of company stock valued at $57,586,933. Insiders own 0.06% of the company’s stock.

About Apple

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.