Robinson Smith Wealth Advisors LLC Sells 2,762 Shares of Apple Inc. $AAPL
by Mitch Edgeman · The Markets DailyRobinson Smith Wealth Advisors LLC cut its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 20.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,008 shares of the iPhone maker’s stock after selling 2,762 shares during the period. Apple comprises approximately 1.8% of Robinson Smith Wealth Advisors LLC’s portfolio, making the stock its 14th biggest holding. Robinson Smith Wealth Advisors LLC’s holdings in Apple were worth $2,259,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. First National Bank of Hutchinson raised its position in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC grew its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC increased its stake in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE lifted its stake in Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Apple
In other Apple news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Chris Kondo sold 3,752 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider directly owned 15,098 shares in the company, valued at $4,095,030.54. The trade was a 19.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 228,052 shares of company stock valued at $58,604,588 in the last ninety days. Insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on AAPL shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Apple in a research report on Monday. Barclays lifted their price objective on Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. HSBC set a $220.00 price objective on shares of Apple and gave the company a “hold” rating in a report on Monday, September 8th. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price for the company. in a research note on Thursday, September 11th. Finally, Melius boosted their price target on shares of Apple from $290.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $278.53.
Read Our Latest Report on Apple
Apple Stock Performance
NASDAQ AAPL opened at $284.15 on Thursday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $288.62. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.89 and a quick ratio of 0.86. The stock has a market capitalization of $4.20 trillion, a PE ratio of 38.04, a P/E/G ratio of 2.64 and a beta of 1.10. The company’s 50 day simple moving average is $265.09 and its two-hundred day simple moving average is $233.25.
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 26.92% and a return on equity of 164.05%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 EPS. Analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio (DPR) is 13.92%.
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.
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