Wooster Corthell Wealth Management Inc. Decreases Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Wooster Corthell Wealth Management Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,860 shares of the iPhone maker’s stock after selling 526 shares during the quarter. Apple makes up 0.5% of Wooster Corthell Wealth Management Inc.’s portfolio, making the stock its 24th largest holding. Wooster Corthell Wealth Management Inc.’s holdings in Apple were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Atlantic Private Wealth LLC bought a new position in Apple in the 1st quarter worth approximately $30,000. Summit Wealth Group LLC raised its stake in shares of Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 6,949,659 shares in the last quarter. HBC Financial Services PLLC lifted its holdings in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. West Tower Group LLC bought a new position in Apple in the 2nd quarter valued at about $64,000. Finally, Clear Perspectives Financial Planning LLC increased its stake in Apple by 27.3% during the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 211 shares during the period. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Up 0.1 %

Shares of AAPL stock opened at $189.41 on Thursday. The stock’s 50 day simple moving average is $190.59 and its 200 day simple moving average is $184.18. Apple Inc. has a twelve month low of $143.90 and a twelve month high of $199.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.02 and a current ratio of 1.07. The company has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 29.50, a PEG ratio of 2.25 and a beta of 1.31.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. During the same quarter last year, the firm posted $1.88 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Apple Inc. will post 6.57 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Monday, February 12th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Friday, February 9th. Apple’s dividend payout ratio is 14.95%.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 123,448 shares of Apple stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $188.79, for a total value of $23,305,747.92. Following the transaction, the senior vice president now directly owns 293,266 shares in the company, valued at $55,365,688.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Chris Kondo sold 5,513 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $192.00, for a total value of $1,058,496.00. Following the completion of the sale, the insider now directly owns 29,174 shares of the company’s stock, valued at $5,601,408. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 123,448 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the completion of the sale, the senior vice president now owns 293,266 shares in the company, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. Insiders sold 133,767 shares of company stock worth $25,248,740 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Piper Sandler Companies downgraded shares of Apple to a “neutral” rating and dropped their target price for the stock from $220.00 to $205.00 in a report on Thursday, January 4th. Barclays decreased their price target on Apple from $160.00 to $158.00 and set an “underweight” rating for the company in a research report on Friday, February 2nd. Redburn Partners downgraded Apple to a “neutral” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 10th. JPMorgan Chase & Co. dropped their target price on shares of Apple from $225.00 to $215.00 and set an “overweight” rating on the stock in a research report on Friday, February 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Apple in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.72.

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Apple Profile

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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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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