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

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Altus Wealth Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,991 shares of the iPhone maker’s stock after selling 281 shares during the quarter. Apple comprises about 0.8% of Altus Wealth Management LLC’s investment portfolio, making the stock its 14th largest position. Altus Wealth Management LLC’s holdings in Apple were worth $1,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Norges Bank acquired a new position in shares of Apple during the 4th quarter worth $25,228,507,000. State Street Corp grew its stake in shares of Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after purchasing an additional 10,951,705 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Apple during the 4th quarter worth $1,461,735,000. Capital Research Global Investors grew its stake in shares of Apple by 38.1% during the 4th quarter. Capital Research Global Investors now owns 29,549,427 shares of the iPhone maker’s stock worth $5,247,094,000 after purchasing an additional 8,154,171 shares during the period. Finally, ProShare Advisors LLC boosted its position in shares of Apple by 41.8% in the 4th quarter. ProShare Advisors LLC now owns 20,866,567 shares of the iPhone maker’s stock worth $3,705,275,000 after buying an additional 6,154,422 shares in the last quarter. 57.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $161.72, for a total value of $4,043,000.00. Following the completion of the sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at $73,151,454.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Apple Stock Up 3.3 %

AAPL opened at $162.51 on Friday. The firm has a 50 day moving average price of $144.31 and a 200 day moving average price of $157.43. The company has a market cap of $2.63 trillion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.97 and a beta of 1.19. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.88 and a current ratio of 0.93.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 26.41% and a return on equity of 152.88%. The firm had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter in the prior year, the company earned $1.30 EPS. The company’s revenue was up 1.9% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 6.09 earnings per share for the current year.

Apple announced that its board has authorized a share repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to buy up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Monday, August 8th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.57%. Apple’s dividend payout ratio (DPR) is 14.94%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AAPL. Piper Sandler decreased their price objective on shares of Apple from $200.00 to $195.00 in a research report on Friday, April 29th. Morgan Stanley decreased their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. KeyCorp decreased their price objective on shares of Apple from $191.00 to $173.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Credit Suisse Group set a $166.00 price objective on shares of Apple in a research report on Friday. Finally, Itau BBA Securities began coverage on shares of Apple in a research report on Tuesday. They issued an “underperform” rating and a $136.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.04.

Apple Profile

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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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