Wealthspire Advisors LLC Has $92.01 Million Stock Position in Apple Inc. $AAPL

Wealthspire Advisors LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 25.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 448,471 shares of the iPhone maker’s stock after selling 153,044 shares during the period. Wealthspire Advisors LLC’s holdings in Apple were worth $92,013,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AAPL. Ryan Investment Management Inc. bought a new position in Apple during the second quarter worth $31,000. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares in the last quarter. Nexus Investment Management ULC raised its position in shares of Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after acquiring an additional 200 shares in the last quarter. Elite Financial Inc. acquired a new position in shares of Apple in the 1st quarter valued at about $58,000. Finally, LSV Asset Management bought a new stake in shares of Apple during the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $277.89 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.11 trillion, a PE ratio of 37.20, a P/E/G ratio of 2.61 and a beta of 1.10. The business has a 50 day moving average of $266.50 and a 200-day moving average of $235.02. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $288.62.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Monday, November 10th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s payout ratio is 13.92%.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This represents a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction that occurred 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 sale, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 228,052 shares of company stock valued at $58,604,588 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on AAPL shares. HSBC set a $220.00 price target on Apple and gave the company a “hold” rating in a research note on Monday, September 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Apple in a research note on Wednesday, December 3rd. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research note on Thursday, September 4th. UBS Group restated a “neutral” rating on shares of Apple in a report on Monday. Finally, DA Davidson lifted their price target on shares of Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $282.06.

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.