Apple Inc. (NASDAQ:AAPL) Stock Position Trimmed by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,190 shares of the iPhone maker's stock after selling 2,291 shares during the quarter. Apple accounts for 3.3% of Alpha Omega Wealth Management LLC's portfolio, making the stock its 3rd biggest holding. Alpha Omega Wealth Management LLC's holdings in Apple were worth $17,752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Granite Investment Partners LLC grew its stake in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker's stock valued at $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp raised its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock worth $1,473,224,000 after purchasing an additional 126,210 shares during the period. EP Wealth Advisors LLC raised its holdings in Apple by 5.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker's stock worth $406,099,000 after purchasing an additional 95,235 shares during the period. Bellwether Advisors LLC raised its holdings in shares of Apple by 387.3% during the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker's stock valued at $5,128,000 after acquiring an additional 19,352 shares during the last quarter. Finally, Gentry Private Wealth LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $876,000. 60.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research reports. Monness Crespi & Hardt reaffirmed a "buy" rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Oppenheimer reiterated a "buy" rating and set a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Moffett Nathanson lowered their price target on Apple from $211.00 to $202.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, New Street Research reaffirmed a "neutral" rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $235.25.

Apple Trading Down 0.6 %

AAPL traded down $1.27 during trading on Wednesday, reaching $227.01. 14,730,447 shares of the company's stock were exchanged, compared to its average volume of 58,315,543. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $3.43 trillion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The firm has a fifty day moving average price of $227.34 and a two-hundred day moving average price of $217.31.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business's revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 earnings per share. As a group, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple's dividend payout ratio (DPR) is presently 16.45%.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company's stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last quarter. 0.06% of the stock is currently owned by company insiders.

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.