Apple Inc. (NASDAQ:AAPL) Holdings Reduced by Great Waters Wealth Management

Great Waters Wealth Management lowered its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,589 shares of the iPhone maker's stock after selling 2,197 shares during the quarter. Apple accounts for about 1.1% of Great Waters Wealth Management's investment portfolio, making the stock its 14th biggest holding. Great Waters Wealth Management's holdings in Apple were worth $8,525,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Verus Financial Partners Inc. grew its holdings in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker's stock worth $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory boosted its holdings in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker's stock valued at $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. boosted its holdings in Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker's stock valued at $625,000 after purchasing an additional 50 shares in the last quarter. Lowery Thomas LLC boosted its holdings in Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker's stock valued at $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its holdings in Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker's stock valued at $949,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Moffett Nathanson reduced their price target on shares of Apple from $211.00 to $202.00 and set a "neutral" rating for the company in a research report on Tuesday. StockNews.com downgraded shares of Apple from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. Tigress Financial lifted their price target on shares of Apple from $245.00 to $295.00 and gave the company a "strong-buy" rating in a research report on Wednesday, August 28th. Finally, Raymond James lifted their price target on shares of Apple from $200.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $235.25.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 0.3 %

Shares of Apple stock opened at $229.00 on Thursday. The company has a fifty day moving average price of $227.47 and a 200 day moving average price of $217.40. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The stock has a market cap of $3.46 trillion, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. 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 is currently 16.45%.

Apple Company 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.