Forza Wealth Management LLC Has $2.59 Million Stake in Apple Inc. $AAPL

Forza Wealth Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 2.2% in the second quarter, HoldingsChannel.com reports. The firm owned 12,606 shares of the iPhone maker’s stock after selling 279 shares during the period. Apple accounts for about 1.1% of Forza Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Forza Wealth Management LLC’s holdings in Apple were worth $2,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SigFig Wealth Management LLC increased its holdings in Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after purchasing an additional 50 shares during the period. Childress Capital Advisors LLC increased its holdings in Apple by 8.3% in the second quarter. Childress Capital Advisors LLC now owns 54,332 shares of the iPhone maker’s stock valued at $11,147,000 after purchasing an additional 4,142 shares during the period. Consolidated Portfolio Review Corp increased its holdings in Apple by 0.9% in the second quarter. Consolidated Portfolio Review Corp now owns 204,052 shares of the iPhone maker’s stock valued at $41,865,000 after purchasing an additional 1,827 shares during the period. Citrine Capital LLC increased its holdings in Apple by 1.9% in the second quarter. Citrine Capital LLC now owns 3,260 shares of the iPhone maker’s stock valued at $669,000 after purchasing an additional 62 shares during the period. Finally, LBP AM SA increased its holdings in Apple by 0.8% in the second quarter. LBP AM SA now owns 936,031 shares of the iPhone maker’s stock valued at $192,045,000 after purchasing an additional 7,700 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of the firm’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 transaction, the chief financial officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 259,121 shares of company stock worth $65,358,981 over the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on AAPL shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a research report on Friday, July 25th. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a research report on Thursday, September 4th. HSBC set a $220.00 price target on shares of Apple and gave the company a “hold” rating in a research report on Monday, September 8th. CLSA raised shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Finally, Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Four research 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 given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $248.29.

Apple Price Performance

AAPL stock opened at $252.29 on Monday. The stock has a market capitalization of $3.74 trillion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09. The company’s 50-day moving average is $241.13 and its 200-day moving average is $216.91. 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 $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. Equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal 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 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 was Monday, August 11th. Apple’s dividend payout ratio is 15.78%.

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.