WP Advisors LLC Sells 3,853 Shares of Apple Inc. (NASDAQ:AAPL)

WP Advisors LLC cut its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 188,281 shares of the iPhone maker’s stock after selling 3,853 shares during the period. Apple accounts for approximately 11.2% of WP Advisors LLC’s portfolio, making the stock its biggest holding. WP Advisors LLC’s holdings in Apple were worth $25,742,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Donald L. Hagan LLC boosted its holdings in Apple by 0.3% in the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after acquiring an additional 61 shares during the last quarter. Goodwin Daniel L boosted its holdings in Apple by 0.5% in the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after acquiring an additional 62 shares during the last quarter. Opus Capital Group LLC boosted its holdings in Apple by 0.3% in the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 63 shares during the last quarter. Norwood Financial Corp boosted its holdings in Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after acquiring an additional 65 shares during the last quarter. Finally, Investors Research Corp boosted its holdings in Apple by 0.4% in the first quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock valued at $2,814,000 after acquiring an additional 66 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on Apple from $205.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. Sanford C. Bernstein set a $170.00 target price on Apple in a research note on Monday, September 12th. Deutsche Bank Aktiengesellschaft set a $175.00 target price on Apple in a research note on Monday, August 1st. Evercore ISI increased their target price on Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Tuesday, September 20th. Finally, KeyCorp increased their target price on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, August 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.

Apple Stock Performance

Shares of AAPL opened at $150.43 on Friday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The firm has a fifty day simple moving average of $160.32 and a 200 day simple moving average of $155.73. The stock has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.98 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is 15.18%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Apple news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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