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Apple Inc. (NASDAQ:AAPL) is Williams Jones Wealth Management LLC.’s Largest Position

Williams Jones Wealth Management LLC. reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.7% in the first quarter, HoldingsChannel reports. The fund owned 2,386,480 shares of the iPhone maker’s stock after selling 40,265 shares during the period. Apple accounts for 5.8% of Williams Jones Wealth Management LLC.’s portfolio, making the stock its biggest holding. Williams Jones Wealth Management LLC.’s holdings in Apple were worth $416,703,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Elk River Wealth Management LLC increased its stake in Apple by 49.0% during the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock valued at $29,181,000 after purchasing an additional 54,989 shares in the last quarter. Piscataqua Savings Bank increased its stake in Apple by 1.5% during the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after purchasing an additional 684 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Apple during the 1st quarter valued at about $171,000. Primoris Wealth Advisors LLC bought a new stake in Apple during the 4th quarter valued at about $4,282,000. Finally, Chico Wealth RIA bought a new stake in shares of Apple in the first quarter worth approximately $7,794,000. 57.72% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Up 1.9 %

Shares of AAPL opened at $157.37 on Friday. The company’s fifty day moving average is $158.47 and its 200 day moving average is $156.37. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The stock has a market capitalization of $2.53 trillion, a PE ratio of 25.97, a P/E/G ratio of 2.02 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the business posted $1.30 earnings per share. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.58%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on AAPL shares. KeyCorp lifted their price target on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. Citigroup lifted their price target on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $139.00 price target on shares of Apple in a research note on Thursday. Fundamental Research set a $177.07 price target on shares of Apple and gave the stock a “buy” rating in a research note on Thursday, August 4th. Finally, Monness Crespi & Hardt initiated coverage on shares of Apple in a research note on Thursday. They issued a “buy” rating and a $174.00 price target for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $181.31.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

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