Ruedi Wealth Management Inc. Decreases Stake in Apple Inc. $AAPL

Ruedi Wealth Management Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,797 shares of the iPhone maker’s stock after selling 490 shares during the period. Apple accounts for approximately 1.1% of Ruedi Wealth Management Inc.’s investment portfolio, making the stock its 17th biggest position. Ruedi Wealth Management Inc.’s holdings in Apple were worth $3,857,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its position in Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares in the last quarter. Nuveen LLC purchased a new stake in Apple in the 1st quarter valued at $17,472,482,000. Northern Trust Corp increased its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Amundi raised its holdings in shares of Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after acquiring an additional 14,651,321 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 224,300 shares of company stock worth $57,586,933. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AAPL shares. DA Davidson raised their price objective on shares of Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a report on Thursday, September 11th. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating and upped their price objective for the company from $203.07 to $246.99 in a report on Friday, October 31st. Melius Research set a $345.00 price objective on Apple in a research report on Friday, October 31st. Finally, Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research note on Thursday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

Apple Stock Down 0.5%

Shares of NASDAQ AAPL opened at $268.47 on Monday. 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 business’s 50 day moving average is $252.25 and its two-hundred day moving average is $224.85. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $277.32. The firm has a market cap of $3.97 trillion, a price-to-earnings ratio of 40.74, a PEG ratio of 2.62 and a beta of 1.09.

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

Apple Announces Dividend

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

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.