Brightwater Advisory LLC Sells 393 Shares of Apple Inc. (NASDAQ:AAPL)

Brightwater Advisory LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,810 shares of the iPhone maker’s stock after selling 393 shares during the quarter. Apple accounts for 1.9% of Brightwater Advisory LLC’s investment portfolio, making the stock its 19th largest holding. Brightwater Advisory LLC’s holdings in Apple were worth $2,519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. China Universal Asset Management Co. Ltd. boosted its holdings in Apple by 127.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after acquiring an additional 42,282 shares in the last quarter. Smart Money Group LLC increased its holdings in shares of Apple by 28.5% during the first quarter. Smart Money Group LLC now owns 6,309 shares of the iPhone maker’s stock valued at $1,075,000 after acquiring an additional 1,400 shares in the last quarter. Mutual Advisors LLC raised its position in shares of Apple by 7.0% during the first quarter. Mutual Advisors LLC now owns 674,326 shares of the iPhone maker’s stock worth $115,633,000 after purchasing an additional 44,374 shares during the period. Integrity Financial Corp WA lifted its holdings in shares of Apple by 5.8% in the 1st quarter. Integrity Financial Corp WA now owns 29,400 shares of the iPhone maker’s stock worth $5,041,000 after purchasing an additional 1,622 shares in the last quarter. Finally, Patron Partners LLC grew its position in Apple by 0.6% in the 1st quarter. Patron Partners LLC now owns 48,158 shares of the iPhone maker’s stock valued at $8,258,000 after purchasing an additional 265 shares during the period. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Melius Research restated a “buy” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Moffett Nathanson decreased their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Finally, Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Apple Stock Up 0.9 %

AAPL opened at $235.06 on Wednesday. The firm has a market capitalization of $3.55 trillion, a P/E ratio of 38.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a fifty day moving average price of $228.43 and a 200-day moving average price of $219.01. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple’s payout ratio is presently 16.45%.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

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.