Fortress Wealth Group LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,847 shares of the iPhone maker’s stock after selling 977 shares during the quarter. Apple makes up about 2.3% of Fortress Wealth Group LLC’s holdings, making the stock its 8th biggest position. Fortress Wealth Group LLC’s holdings in Apple were worth $2,667,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in AAPL. Amundi acquired a new position in shares of Apple in the 2nd quarter valued at $5,528,240,000. Vanguard Group Inc. increased its holdings in shares of Apple by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,264,936,543 shares of the iPhone maker’s stock valued at $173,245,709,000 after acquiring an additional 25,553,808 shares during the period. Liberty Wealth Management LLC increased its holdings in shares of Apple by 13,998.4% in the 2nd quarter. Liberty Wealth Management LLC now owns 25,320,849 shares of the iPhone maker’s stock valued at $184,697,000 after acquiring an additional 25,141,248 shares during the period. Nordea Investment Management AB increased its holdings in shares of Apple by 97.9% in the 3rd quarter. Nordea Investment Management AB now owns 36,546,345 shares of the iPhone maker’s stock valued at $5,239,285,000 after acquiring an additional 18,074,896 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in shares of Apple by 515.0% in the 2nd quarter. Macquarie Group Ltd. now owns 15,285,356 shares of the iPhone maker’s stock valued at $2,093,483,000 after acquiring an additional 12,799,829 shares during the period. 56.40% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Deirdre O’brien sold 18,247 shares of the business’s stock in a transaction dated Monday, October 18th. The shares were sold at an average price of $146.35, for a total value of $2,670,448.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Luca Maestri sold 165,829 shares of the company’s stock in a transaction dated Tuesday, October 19th. The shares were sold at an average price of $148.62, for a total transaction of $24,645,505.98. The disclosure for this sale can be found here. Insiders sold a total of 218,081 shares of company stock valued at $32,383,704 in the last three months. 0.06% of the stock is currently owned by corporate insiders.
Shares of AAPL stock opened at $172.17 on Friday. The firm has a 50-day moving average price of $165.53 and a 200 day moving average price of $152.72. Apple Inc. has a twelve month low of $116.21 and a twelve month high of $182.94. The company has a market capitalization of $2.82 trillion, a price-to-earnings ratio of 30.64, a PEG ratio of 2.36 and a beta of 1.20. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.73.
Apple (NASDAQ:AAPL) last announced its earnings results on Wednesday, October 27th. The iPhone maker reported $1.24 earnings per share for the quarter, meeting the consensus estimate of $1.24. Apple had a net margin of 25.88% and a return on equity of 144.13%. The firm had revenue of $83.40 billion during the quarter, compared to the consensus estimate of $84.94 billion. During the same quarter in the previous year, the company posted $0.73 EPS. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, research analysts predict that Apple Inc. will post 5.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 11th. Investors of record on Monday, November 8th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Friday, November 5th. Apple’s payout ratio is 15.66%.
A number of equities analysts recently weighed in on the stock. Tigress Financial lifted their price objective on shares of Apple from $182.00 to $198.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 22nd. Cowen reiterated an “outperform” rating and issued a $180.00 price objective on shares of Apple in a research report on Wednesday, September 15th. Fundamental Research lifted their price objective on shares of Apple from $163.99 to $164.79 and gave the company a “buy” rating in a research report on Tuesday, November 23rd. Wedbush upgraded shares of Apple to an “outperform” rating and lifted their price objective for the company from $185.00 to $200.00 in a research report on Thursday, December 2nd. Finally, Sanford C. Bernstein set a $132.00 price objective on shares of Apple in a research report on Tuesday, December 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $173.06.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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