Apple Inc. (NASDAQ:AAPL) Shares Sold by WT Wealth Management

WT Wealth Management reduced its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,759 shares of the iPhone maker’s stock after selling 1,159 shares during the period. Apple makes up about 2.4% of WT Wealth Management’s investment portfolio, making the stock its 11th biggest holding. WT Wealth Management’s holdings in Apple were worth $4,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Cooper Financial Group boosted its stake in shares of Apple by 2.2% in the first quarter. Cooper Financial Group now owns 114,581 shares of the iPhone maker’s stock valued at $20,007,000 after purchasing an additional 2,516 shares during the period. Heartland Bank & Trust Co boosted its position in Apple by 8.5% in the 1st quarter. Heartland Bank & Trust Co now owns 59,278 shares of the iPhone maker’s stock valued at $10,351,000 after buying an additional 4,629 shares during the last quarter. CCG Wealth Management LLC grew its stake in shares of Apple by 14.0% during the first quarter. CCG Wealth Management LLC now owns 13,972 shares of the iPhone maker’s stock valued at $2,440,000 after acquiring an additional 1,716 shares in the last quarter. EWG Elevate Inc. lifted its stake in shares of Apple by 53.3% in the first quarter. EWG Elevate Inc. now owns 11,387 shares of the iPhone maker’s stock worth $1,988,000 after acquiring an additional 3,960 shares in the last quarter. Finally, Pacifica Partners Inc. lifted its stake in shares of Apple by 5.7% in the first quarter. Pacifica Partners Inc. now owns 55,635 shares of the iPhone maker’s stock worth $9,252,000 after acquiring an additional 3,013 shares in the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 2.0 %

Shares of Apple stock opened at $149.35 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The firm has a market capitalization of $2.40 trillion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 1.81 and a beta of 1.25. The stock’s fifty day moving average is $152.39 and its 200-day moving average is $151.92.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The firm had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. Equities analysts anticipate that Apple Inc. will post 6.11 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Deirdre O’brien sold 176,299 shares of Apple stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the transaction, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,374,986.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,087 shares of company stock valued at $47,252,854. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AAPL shares. UBS Group set a $185.00 price objective on Apple in a report on Friday, October 21st. The Goldman Sachs Group reiterated a “neutral” rating and set a $139.00 price objective on shares of Apple in a research note on Thursday, September 8th. Itaú Unibanco started coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price on the stock. Bank Of America (Bofa) downgraded Apple from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $189.00 to $160.00 in a research note on Friday, September 30th. Finally, Credit Suisse Group set a $190.00 target price on Apple in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $180.25.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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