Wambolt & Associates LLC Has $10 Million Stock Holdings in Apple Inc. $AAPL

Wambolt & Associates LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 8.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,140 shares of the iPhone maker’s stock after selling 4,385 shares during the quarter. Apple accounts for about 3.4% of Wambolt & Associates LLC’s investment portfolio, making the stock its 3rd largest position. Wambolt & Associates LLC’s holdings in Apple were worth $10,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AAPL. RiverPark Advisors LLC lifted its stake in shares of Apple by 0.7% during the 2nd quarter. RiverPark Advisors LLC now owns 33,813 shares of the iPhone maker’s stock valued at $6,937,000 after buying an additional 233 shares in the last quarter. Riverpark Capital Management LLC increased its stake in Apple by 5.8% in the 2nd quarter. Riverpark Capital Management LLC now owns 16,685 shares of the iPhone maker’s stock worth $3,423,000 after buying an additional 917 shares in the last quarter. Employees Retirement System of Texas raised its holdings in Apple by 23.5% during the second quarter. Employees Retirement System of Texas now owns 2,414,514 shares of the iPhone maker’s stock valued at $495,386,000 after acquiring an additional 458,683 shares during the period. Northwest & Ethical Investments L.P. raised its holdings in Apple by 7.4% during the second quarter. Northwest & Ethical Investments L.P. now owns 409,544 shares of the iPhone maker’s stock valued at $83,945,000 after acquiring an additional 28,170 shares during the period. Finally, Maia Wealth LLC lifted its position in shares of Apple by 9.0% in the second quarter. Maia Wealth LLC now owns 30,371 shares of the iPhone maker’s stock valued at $6,231,000 after acquiring an additional 2,520 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. Monness Crespi & Hardt increased their target price on Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Cowen restated a “buy” rating on shares of Apple in a research note on Monday, October 27th. Melius Research set a $345.00 price objective on shares of Apple in a report on Friday, October 31st. Citigroup reiterated a “buy” rating and set a $330.00 price objective (up previously from $315.00) on shares of Apple in a research report on Tuesday. Finally, HSBC set a $220.00 target price on shares of Apple and gave the stock a “hold” rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.51.

Apple Stock Up 0.6%

NASDAQ AAPL opened at $278.78 on Thursday. The stock has a 50 day moving average price of $267.42 and a 200-day moving average price of $235.90. Apple Inc. has a one year low of $169.21 and a one year high of $288.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. The company has a market capitalization of $4.12 trillion, a P/E ratio of 37.32, a P/E/G ratio of 2.59 and a beta of 1.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a net margin of 26.92% and a return on equity of 164.05%. The company had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. Apple’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Activity

In related news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was 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 owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is owned by insiders.

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.