JGP Wealth Management LLC Has $44.83 Million Holdings in Apple Inc. $AAPL

JGP Wealth Management LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,480 shares of the iPhone maker’s stock after selling 653 shares during the period. Apple accounts for 5.4% of JGP Wealth Management LLC’s holdings, making the stock its 2nd largest holding. JGP Wealth Management LLC’s holdings in Apple were worth $44,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its stake in shares of Apple by 573,627.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after purchasing an additional 205,656,808 shares in the last quarter. Nuveen LLC bought a new position in Apple in the 1st quarter valued at approximately $17,472,482,000. Northern Trust Corp boosted its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after buying an additional 20,079,472 shares during the period. Amundi grew its holdings in Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after acquiring an additional 14,651,321 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 224,300 shares of company stock valued at $57,586,933. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Apple stock opened at $275.25 on Wednesday. The stock has a market capitalization of $4.07 trillion, a price-to-earnings ratio of 41.77, a PEG ratio of 2.62 and a beta of 1.08. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $277.32. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock’s 50 day moving average price is $253.91 and its two-hundred day moving average price is $225.75.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be given 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 of this dividend is Monday, November 10th. Apple’s dividend payout ratio is 13.92%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Friday, July 25th. DA Davidson upped their price target on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. TD Cowen increased their price target on Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Tigress Financial lifted their price objective on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Finally, UBS Group upped their target price on Apple from $220.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.22.

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.