Alpha Omega Wealth Management LLC Sells 2,291 Shares of Apple Inc. (NASDAQ:AAPL)

Alpha Omega Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,190 shares of the iPhone maker’s stock after selling 2,291 shares during the quarter. Apple makes up 3.3% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 3rd biggest position. Alpha Omega Wealth Management LLC’s holdings in Apple were worth $17,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AAPL. Verus Financial Partners Inc. increased its holdings in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares during the last quarter. Brown Financial Advisory increased its stake in shares of Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares during the last quarter. Core Wealth Management Inc. raised its holdings in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the period. Lowery Thomas LLC raised its holdings in shares of Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after acquiring an additional 51 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Apple Trading Up 0.1 %

Shares of AAPL stock opened at $228.28 on Wednesday. The company has a market capitalization of $3.45 trillion, a P/E ratio of 37.55, a P/E/G ratio of 2.20 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm has a 50-day moving average price of $227.34 and a 200 day moving average price of $217.31.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America reissued a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. The Goldman Sachs Group raised their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and increased their target price for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, Citigroup boosted their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Company 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.