Apple Inc. $AAPL Shares Sold by Wingate Wealth Advisors Inc.

Wingate Wealth Advisors Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,004 shares of the iPhone maker’s stock after selling 524 shares during the period. Wingate Wealth Advisors Inc.’s holdings in Apple were worth $1,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Planned Solutions Inc. grew its holdings in shares of Apple by 53.4% during the second quarter. Planned Solutions Inc. now owns 18,786 shares of the iPhone maker’s stock worth $3,854,000 after buying an additional 6,538 shares in the last quarter. Financial Synergies Wealth Advisors Inc. boosted its position in Apple by 4.8% during the second quarter. Financial Synergies Wealth Advisors Inc. now owns 21,737 shares of the iPhone maker’s stock worth $4,460,000 after acquiring an additional 1,005 shares during the last quarter. John G Ullman & Associates Inc. boosted its position in Apple by 3.6% during the second quarter. John G Ullman & Associates Inc. now owns 17,183 shares of the iPhone maker’s stock worth $3,525,000 after acquiring an additional 600 shares during the last quarter. Dumont & Blake Investment Advisors LLC grew its stake in Apple by 0.3% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 69,858 shares of the iPhone maker’s stock valued at $14,333,000 after acquiring an additional 217 shares in the last quarter. Finally, Arcus Capital Partners LLC raised its holdings in Apple by 10.5% in the 2nd quarter. Arcus Capital Partners LLC now owns 16,672 shares of the iPhone maker’s stock valued at $3,421,000 after acquiring an additional 1,585 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Down 1.8%

Shares of AAPL opened at $267.46 on Tuesday. The company’s 50-day simple moving average is $256.52 and its 200-day simple moving average is $227.43. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $277.32. The stock has a market capitalization of $3.95 trillion, a PE ratio of 40.59, a P/E/G ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.64 EPS. Analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, November 10th. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AAPL shares. Wells Fargo & Company set a $300.00 target price on Apple and gave the company an “overweight” rating in a report on Friday, October 31st. Tigress Financial increased their price target on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. DZ Bank upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 4th. Melius upped their price objective on Apple from $290.00 to $345.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Wedbush reissued an “outperform” rating on shares of Apple in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $278.22.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% 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, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is currently owned by company insiders.

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.