Whipplewood Advisors LLC Sells 2,550 Shares of Apple Inc. $AAPL

Whipplewood Advisors LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 13.4% during the second quarter, Holdings Channel reports. The firm owned 16,431 shares of the iPhone maker’s stock after selling 2,550 shares during the period. Apple accounts for about 1.9% of Whipplewood Advisors LLC’s portfolio, making the stock its 10th largest position. Whipplewood Advisors LLC’s holdings in Apple were worth $3,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. First National Bank of Hutchinson lifted its stake in shares of Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares during the last quarter. Eagle Capital Management LLC raised its holdings in Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC lifted its position in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its holdings in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after acquiring an additional 1,155 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 3,752 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider owned 15,098 shares in the company, valued at $4,095,030.54. This trade represents a 19.90% 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, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 228,052 shares of company stock valued at $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Seaport Res Ptn raised Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. TD Cowen increased their price objective on Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Argus set a $325.00 price objective on shares of Apple and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Rosenblatt Securities boosted their target price on shares of Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $277.55 on Thursday. The firm has a market capitalization of $4.10 trillion, a price-to-earnings ratio of 42.12, a PEG ratio of 2.62 and a beta of 1.09. Apple Inc. has a one year low of $169.21 and a one year high of $280.38. The business has a fifty day simple moving average of $261.82 and a 200 day simple moving average of $230.80. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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

Apple Dividend Announcement

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

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.