Wealthsource Partners LLC Lowers Position in Apple Inc. (NASDAQ:AAPL)

Wealthsource Partners LLC cut its position in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,927 shares of the iPhone maker’s stock after selling 6,622 shares during the period. Apple comprises about 1.9% of Wealthsource Partners LLC’s investment portfolio, making the stock its 10th largest position. Wealthsource Partners LLC’s holdings in Apple were worth $28,673,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AAPL. Kingdom Financial Group LLC. boosted its stake in Apple by 5.5% in the third quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock worth $1,963,000 after purchasing an additional 598 shares in the last quarter. RFG Advisory LLC boosted its stake in Apple by 13.6% in the third quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after purchasing an additional 20,737 shares in the last quarter. Headinvest LLC boosted its stake in Apple by 1.7% in the third quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares in the last quarter. Tsfg LLC boosted its stake in Apple by 2.2% in the third quarter. Tsfg LLC now owns 50,943 shares of the iPhone maker’s stock worth $8,722,000 after purchasing an additional 1,091 shares in the last quarter. Finally, State Street Corp boosted its stake in Apple by 0.5% in the second quarter. State Street Corp now owns 578,897,858 shares of the iPhone maker’s stock worth $112,288,818,000 after purchasing an additional 2,616,084 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In related news, Director Arthur D. Levinson sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Deirdre O’brien sold 54,732 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now directly owns 136,572 shares of the company’s stock, valued at $23,068,376.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,915 shares of company stock valued at $44,202,868. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. Redburn Partners lowered Apple to a “neutral” rating and set a $200.00 price objective on the stock. in a research note on Wednesday, January 10th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $189.00 price target on shares of Apple in a research note on Tuesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price target on shares of Apple in a research note on Friday, February 2nd. Piper Sandler cut their price target on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Finally, Loop Capital cut their price target on Apple from $185.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.23.

Get Our Latest Report on AAPL

Apple Stock Up 0.5 %

AAPL stock opened at $169.65 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $2.62 trillion, a P/E ratio of 26.43, a P/E/G ratio of 2.05 and a beta of 1.27. The business has a 50-day moving average of $179.75 and a 200-day moving average of $182.55. Apple Inc. has a fifty-two week low of $159.78 and a fifty-two week high of $199.62.

Apple (NASDAQ:AAPLGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. The company had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. Apple’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 6.55 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a dividend of $0.24 per share. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is currently 14.95%.

Apple Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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