Apple Inc. $AAPL Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,702 shares of the iPhone maker’s stock after selling 14,380 shares during the quarter. Apple comprises about 2.6% of Naviter Wealth LLC’s investment portfolio, making the stock its 6th biggest position. Naviter Wealth LLC’s holdings in Apple were worth $21,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ryan Investment Management Inc. acquired a new stake in shares of Apple in the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. purchased a new position in Apple during the first quarter worth approximately $58,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at $65,000. Finally, HFM Investment Advisors LLC acquired a new position in shares of Apple in the 1st quarter valued at $99,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Activity

In related news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated 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 directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 224,300 shares of company stock valued at $57,586,933. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. Cowen restated a “buy” rating on shares of Apple in a report on Monday, October 27th. The Goldman Sachs Group upped their price target on Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Wells Fargo & Company set a $300.00 price objective on Apple and gave the company an “overweight” rating in a research note on Friday, October 31st. Robert W. Baird set a $300.00 target price on shares of Apple in a research report on Friday, October 31st. Finally, CLSA upgraded shares of Apple to a “strong-buy” rating in a report on Sunday, October 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Apple Stock Up 2.2%

NASDAQ AAPL opened at $275.25 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $277.32. The business has a 50 day moving average price of $253.91 and a two-hundred day moving average price of $225.75. The stock has a market cap of $4.07 trillion, a PE ratio of 41.77, a P/E/G ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating 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 company had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same quarter last year, the firm posted $1.64 earnings per share. The business’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be issued a $0.26 dividend. The ex-dividend date is Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Apple’s 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.