High Note Wealth LLC Sells 128 Shares of Apple Inc. (NASDAQ:AAPL)

High Note Wealth LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 0.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,822 shares of the iPhone maker’s stock after selling 128 shares during the quarter. Apple comprises about 5.2% of High Note Wealth LLC’s investment portfolio, making the stock its 5th biggest holding. High Note Wealth LLC’s holdings in Apple were worth $18,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Granite Investment Partners LLC lifted its stake in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after buying an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after acquiring an additional 95,235 shares during the last quarter. Bellwether Advisors LLC boosted its stake in shares of Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after acquiring an additional 19,352 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Apple by 34.9% in the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after acquiring an additional 51,842 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $235.06 on Wednesday. The company has a market cap of $3.55 trillion, a P/E ratio of 38.66, a P/E/G ratio of 2.25 and a beta of 1.24. The firm’s fifty day moving average price is $228.43 and its two-hundred day moving average price is $219.01. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. 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 released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the company posted $1.46 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts expect 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. Stockholders of record on Monday, November 11th were given 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 dividend yield of 0.43%. Apple’s payout ratio is 16.45%.

Analyst Ratings Changes

AAPL has been the topic of a number of analyst reports. Tigress Financial lifted their price target on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research report on Friday, October 25th. Wedbush restated an “outperform” rating and issued a $285.00 price target on shares of Apple in a research report on Monday, September 9th. The Goldman Sachs Group raised their price objective on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays cut their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $235.25.

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.