Hemington Wealth Management Sells 1,289 Shares of Apple Inc. $AAPL

Hemington Wealth Management lowered its position in Apple Inc. (NASDAQ:AAPL) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,969 shares of the iPhone maker’s stock after selling 1,289 shares during the quarter. Apple accounts for approximately 4.4% of Hemington Wealth Management’s holdings, making the stock its 7th biggest holding. Hemington Wealth Management’s holdings in Apple were worth $30,358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ryan Investment Management Inc. purchased a new stake in shares of Apple in the second quarter valued at about $31,000. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. purchased a new stake in Apple in the 1st quarter valued at approximately $58,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter valued at approximately $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in Apple during the 1st quarter valued at $99,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AAPL shares. Argus set a $325.00 price target on Apple and gave the stock a “buy” rating in a report on Friday, October 31st. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research note on Thursday, September 4th. Wells Fargo & Company set a $300.00 target price on shares of Apple and gave the company an “overweight” rating in a report on Friday, October 31st. Wedbush reiterated an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. Finally, Robert W. Baird set a $300.00 price objective on shares of Apple in a research report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $278.22.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on 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 transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. This trade represents a 32.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 224,300 shares of company stock valued at $57,586,933. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.5%

Shares of AAPL stock opened at $268.47 on Friday. The firm’s 50-day simple moving average is $252.25 and its 200-day simple moving average is $224.54. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The firm has a market cap of $3.98 trillion, a P/E ratio of 40.74, a PEG ratio of 2.62 and a beta of 1.08.

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

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio is presently 13.92%.

Apple 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.