Twelve Points Wealth Management LLC Has $3.60 Million Position in Apple Inc. $AAPL

Twelve Points Wealth Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 17,529 shares of the iPhone maker’s stock after selling 172 shares during the quarter. Apple comprises approximately 1.0% of Twelve Points Wealth Management LLC’s portfolio, making the stock its 23rd largest holding. Twelve Points Wealth Management LLC’s holdings in Apple were worth $3,596,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Ryan Investment Management Inc. acquired a new stake in shares of Apple during the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% during the first 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 period. Elite Financial Inc. acquired a new stake in shares of Apple during the first quarter worth approximately $58,000. LSV Asset Management bought a new position in Apple during the fourth quarter valued at approximately $65,000. Finally, HFM Investment Advisors LLC bought a new position in Apple during the first quarter valued at approximately $99,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on AAPL. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Friday, July 25th. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research report on Monday, September 8th. Evercore ISI set a $290.00 price objective on shares of Apple and gave the company an “outperform” rating in a research report on Friday, September 26th. CLSA raised shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Finally, Bank of America raised their price objective on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.29.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,922 shares of company stock worth $64,320,190. Insiders own 0.06% of the company’s stock.

Apple Trading Down 3.5%

Shares of Apple stock opened at $245.27 on Monday. The company’s fifty day simple moving average is $237.61 and its 200-day simple moving average is $215.83. The company has a market cap of $3.64 trillion, a price-to-earnings ratio of 37.22, a PEG ratio of 2.39 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $1.40 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

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.