Venturi Wealth Management LLC Reduces Position in Apple Inc. (NASDAQ:AAPL)

Venturi Wealth Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 173,191 shares of the iPhone maker’s stock after selling 3,317 shares during the quarter. Apple accounts for approximately 2.4% of Venturi Wealth Management LLC’s investment portfolio, making the stock its 7th biggest holding. Venturi Wealth Management LLC’s holdings in Apple were worth $33,344,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Better Money Decisions LLC increased its stake in Apple by 2.8% in the 4th quarter. Better Money Decisions LLC now owns 18,057 shares of the iPhone maker’s stock valued at $3,477,000 after buying an additional 499 shares during the last quarter. Beacon Financial Advisory LLC raised its holdings in shares of Apple by 3.0% in the 4th quarter. Beacon Financial Advisory LLC now owns 35,330 shares of the iPhone maker’s stock worth $6,802,000 after purchasing an additional 1,036 shares during the period. Arcadia Wealth Management LLC raised its holdings in shares of Apple by 3.4% in the 4th quarter. Arcadia Wealth Management LLC now owns 2,676 shares of the iPhone maker’s stock worth $515,000 after purchasing an additional 89 shares during the period. Capstone Capital Wealth Advisors bought a new stake in shares of Apple in the 4th quarter worth approximately $582,000. Finally, Independence Bank of Kentucky raised its holdings in shares of Apple by 0.3% in the 4th quarter. Independence Bank of Kentucky now owns 64,728 shares of the iPhone maker’s stock worth $12,462,000 after purchasing an additional 177 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Trading Up 1.3 %

NASDAQ:AAPL opened at $169.02 on Thursday. The company’s 50 day moving average price is $173.58 and its 200-day moving average price is $181.94. Apple Inc. has a 52 week low of $162.80 and a 52 week high of $199.62. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28. The stock has a market cap of $2.61 trillion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.00 and a beta of 1.27.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The firm had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 12th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Friday, February 9th. Apple’s dividend payout ratio is currently 14.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AAPL shares. Maxim Group began coverage on shares of Apple in a report on Wednesday, April 17th. They set a “hold” rating and a $178.00 target price on the stock. The Goldman Sachs Group upped their target price on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Piper Sandler Companies lowered shares of Apple to a “neutral” rating and cut their target price for the stock from $220.00 to $205.00 in a research report on Thursday, January 4th. Morgan Stanley cut their target price on shares of Apple from $220.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. cut their price target on shares of Apple from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.05.

Insider Buying and Selling

In related news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now owns 4,434,576 shares in the company, valued at $802,392,181.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 366,271 shares of company stock worth $63,653,887. 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.