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Apple Inc. (NASDAQ:AAPL) is Inlet Private Wealth LLC’s 2nd Largest Position

Inlet Private Wealth LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,210 shares of the iPhone maker’s stock after selling 196 shares during the quarter. Apple accounts for approximately 5.3% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 2nd biggest position. Inlet Private Wealth LLC’s holdings in Apple were worth $18,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dakota Wealth Management raised its position in Apple by 1.8% in the 4th quarter. Dakota Wealth Management now owns 268,252 shares of the iPhone maker’s stock valued at $47,633,000 after purchasing an additional 4,741 shares in the last quarter. Summitry LLC raised its position in Apple by 2.1% in the 4th quarter. Summitry LLC now owns 29,748 shares of the iPhone maker’s stock valued at $5,282,000 after purchasing an additional 619 shares in the last quarter. AAF Wealth Management LLC raised its position in Apple by 5.0% in the 4th quarter. AAF Wealth Management LLC now owns 13,462 shares of the iPhone maker’s stock valued at $2,389,000 after purchasing an additional 637 shares in the last quarter. Richmond Brothers Inc. acquired a new stake in Apple in the 4th quarter valued at about $15,095,000. Finally, SWM Advisors acquired a new stake in Apple in the 4th quarter valued at about $750,000. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Apple news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Apple news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the topic of a number of analyst reports. Credit Suisse Group set a $201.00 price target on Apple in a research report on Thursday, September 8th. Bank of America cut their target price on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. KeyCorp raised their target price on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Sanford C. Bernstein set a $170.00 target price on Apple in a research report on Monday, September 12th. Finally, Rosenblatt Securities cut their target price on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.

Apple Stock Down 1.5 %

Apple stock opened at $150.43 on Monday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The company has a market cap of $2.42 trillion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.95 and a beta of 1.23. The stock’s 50 day moving average price is $160.32 and its 200 day moving average price is $155.71.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s payout ratio is 15.18%.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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