Hennion & Walsh Asset Management Inc. Has $16.24 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,847 shares of the iPhone maker's stock after selling 2,149 shares during the period. Apple makes up about 0.8% of Hennion & Walsh Asset Management Inc.'s holdings, making the stock its 15th biggest position. Hennion & Walsh Asset Management Inc.'s holdings in Apple were worth $16,244,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AAPL. Global Assets Advisory LLC increased its position in Apple by 12.0% in the 3rd quarter. Global Assets Advisory LLC now owns 63,613 shares of the iPhone maker's stock worth $14,390,000 after purchasing an additional 6,821 shares during the last quarter. JCIC Asset Management Inc. increased its stake in shares of Apple by 0.6% during the 3rd quarter. JCIC Asset Management Inc. now owns 111,561 shares of the iPhone maker's stock worth $25,994,000 after purchasing an additional 670 shares during the last quarter. Grey Fox Wealth Advisors LLC raised its holdings in shares of Apple by 6.2% during the 3rd quarter. Grey Fox Wealth Advisors LLC now owns 28,082 shares of the iPhone maker's stock valued at $6,543,000 after purchasing an additional 1,637 shares in the last quarter. Great Lakes Retirement Inc. lifted its stake in shares of Apple by 3.1% in the 3rd quarter. Great Lakes Retirement Inc. now owns 86,245 shares of the iPhone maker's stock valued at $20,095,000 after purchasing an additional 2,575 shares during the last quarter. Finally, Tanager Wealth Management LLP boosted its holdings in Apple by 0.3% in the third quarter. Tanager Wealth Management LLP now owns 90,642 shares of the iPhone maker's stock worth $21,120,000 after purchasing an additional 266 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Oppenheimer restated a "buy" rating and set a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Bank of America upped their target price on Apple to $256.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. New Street Research reissued a "neutral" rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. StockNews.com downgraded shares of Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Finally, Jefferies Financial Group downgraded shares of Apple from a "buy" rating to a "hold" rating and lifted their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $236.78.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company's stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Shares of NASDAQ:AAPL traded up $4.70 on Friday, hitting $254.49. The stock had a trading volume of 145,580,875 shares, compared to its average volume of 57,671,145. The firm's 50 day moving average price is $234.97 and its 200-day moving average price is $225.70. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $255.00. The company has a market capitalization of $3.85 trillion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.04. The firm 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 company's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.46 earnings per share. On average, equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared 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 was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple's dividend payout ratio is 16.45%.

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.