Apple Inc. (NASDAQ:AAPL) is Baker Tilly Wealth Management LLC's 6th Largest Position

Baker Tilly Wealth Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 38.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,599 shares of the iPhone maker's stock after selling 15,477 shares during the quarter. Apple accounts for 2.5% of Baker Tilly Wealth Management LLC's investment portfolio, making the stock its 6th largest position. Baker Tilly Wealth Management LLC's holdings in Apple were worth $5,732,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AAPL. RDA Financial Network lifted its stake in Apple by 2.8% in the 2nd quarter. RDA Financial Network now owns 40,786 shares of the iPhone maker's stock valued at $8,590,000 after buying an additional 1,124 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in shares of Apple by 15.4% during the second quarter. Linden Thomas Advisory Services LLC now owns 38,082 shares of the iPhone maker's stock valued at $8,021,000 after acquiring an additional 5,077 shares during the last quarter. NBC Securities Inc. lifted its position in shares of Apple by 0.7% in the second quarter. NBC Securities Inc. now owns 189,197 shares of the iPhone maker's stock valued at $39,848,000 after acquiring an additional 1,285 shares in the last quarter. Burkett Financial Services LLC boosted its stake in shares of Apple by 0.9% in the second quarter. Burkett Financial Services LLC now owns 14,024 shares of the iPhone maker's stock worth $2,954,000 after acquiring an additional 126 shares during the last quarter. Finally, Greenfield Savings Bank boosted its stake in shares of Apple by 0.5% in the second quarter. Greenfield Savings Bank now owns 68,568 shares of the iPhone maker's stock worth $14,442,000 after acquiring an additional 338 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 1.3 %

NASDAQ AAPL traded down $3.43 during trading on Friday, hitting $255.59. The stock had a trading volume of 42,297,621 shares, compared to its average volume of 57,290,680. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.86 trillion, a PE ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. The firm has a 50 day moving average price of $237.41 and a 200 day moving average price of $227.79. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.39%. Apple's payout ratio is 16.45%.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 223,986 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock worth $117,004,745 in the last quarter. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group downgraded Apple from a "buy" rating to a "hold" rating and increased their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Loop Capital decreased their price target on shares of Apple from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Oppenheimer restated a "buy" rating and set a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. Moffett Nathanson cut their price objective on shares of Apple from $211.00 to $202.00 and set a "neutral" rating for the company in a report on Tuesday, November 19th. Finally, StockNews.com cut Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $237.47.

About Apple

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.