Apple Inc. $AAPL is Drive Wealth Management LLC’s 4th Largest Position

Drive Wealth Management LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,581 shares of the iPhone maker’s stock after selling 257 shares during the quarter. Apple makes up approximately 3.0% of Drive Wealth Management LLC’s portfolio, making the stock its 4th biggest holding. Drive Wealth Management LLC’s holdings in Apple were worth $13,866,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Baker Boyer National Bank increased its holdings in Apple by 0.3% in the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after acquiring an additional 47 shares during the last quarter. Salus Financial Advisors LLC boosted its position in Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares during the period. Red Tortoise LLC boosted its position in Apple by 0.9% during the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 49 shares during the period. SigFig Wealth Management LLC increased its stake in shares of Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after purchasing an additional 50 shares in the last quarter. Finally, Shariaportfolio Inc. raised its position in shares of Apple by 1.3% in the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after purchasing an additional 50 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 228,052 shares of company stock worth $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $268.56 on Thursday. The business’s 50-day moving average price is $258.01 and its two-hundred day moving average price is $228.15. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The stock has a market cap of $3.97 trillion, a P/E ratio of 40.75, a PEG ratio of 2.62 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping 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 return on equity of 170.91% and a net margin of 24.30%.Apple’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Apple in a report on Thursday, November 13th. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Bank of America lifted their price target on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Citigroup reissued a “buy” rating and set a $315.00 price objective (up previously from $245.00) on shares of Apple in a report on Friday, October 31st. Finally, Melius Research set a $345.00 target price on Apple in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

About Apple

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.