Hemington Wealth Management Sells 1,289 Shares of Apple Inc. $AAPL

Hemington Wealth Management cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,969 shares of the iPhone maker’s stock after selling 1,289 shares during the quarter. Apple comprises about 4.4% of Hemington Wealth Management’s investment portfolio, making the stock its 7th biggest position. Hemington Wealth Management’s holdings in Apple were worth $30,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of AAPL. Fifth Third Wealth Advisors LLC grew its stake in shares of Apple by 12.3% in the second quarter. Fifth Third Wealth Advisors LLC now owns 361,224 shares of the iPhone maker’s stock valued at $74,112,000 after buying an additional 39,499 shares in the last quarter. IRON Financial LLC boosted its holdings in Apple by 0.3% in the 2nd quarter. IRON Financial LLC now owns 64,872 shares of the iPhone maker’s stock worth $13,310,000 after acquiring an additional 191 shares during the period. One Degree Advisors Inc grew its position in Apple by 16.4% in the second quarter. One Degree Advisors Inc now owns 16,443 shares of the iPhone maker’s stock valued at $3,373,000 after acquiring an additional 2,316 shares in the last quarter. Avion Wealth raised its stake in shares of Apple by 14.6% during the second quarter. Avion Wealth now owns 18,838 shares of the iPhone maker’s stock valued at $4,184,000 after purchasing an additional 2,404 shares during the period. Finally, Bey Douglas LLC raised its stake in shares of Apple by 33.4% during the second quarter. Bey Douglas LLC now owns 27,037 shares of the iPhone maker’s stock valued at $5,547,000 after purchasing an additional 6,768 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Trading Down 0.5%

NASDAQ AAPL opened at $268.47 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $169.21 and a one year high of $277.32. The company has a 50-day simple moving average of $252.25 and a 200-day simple moving average of $224.54. The firm has a market capitalization of $3.98 trillion, a PE ratio of 40.74, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter last year, the company posted $1.64 earnings per share. Apple’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast 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 will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 13.92%.

Analyst Ratings Changes

A number of equities analysts have commented on AAPL shares. Citigroup reiterated a “buy” rating and issued a $315.00 price objective (up previously from $245.00) on shares of Apple in a report on Friday, October 31st. DZ Bank upgraded Apple from a “hold” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Tuesday. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and lifted their price target for the stock from $226.00 to $315.00 in a research note on Monday, October 20th. Melius upped their price target on shares of Apple from $290.00 to $345.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Robert W. Baird set a $300.00 price objective on shares of Apple in a report on Friday, October 31st. Three research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $278.22.

Insider Buying and Selling

In other news, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction 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 owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 224,300 shares of company stock worth $57,586,933. 0.06% of the stock is owned by company insiders.

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.