Towerpoint Wealth LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 22.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,551 shares of the iPhone maker’s stock after selling 5,869 shares during the quarter. Apple accounts for 3.6% of Towerpoint Wealth LLC’s investment portfolio, making the stock its 13th biggest holding. Towerpoint Wealth LLC’s holdings in Apple were worth $3,804,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Summit Trail Advisors LLC raised its stake in Apple by 17,669.4% during the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock valued at $20,181,000 after purchasing an additional 20,067,124 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Apple by 1.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 19,610,272 shares of the iPhone maker’s stock valued at $3,290,212,000 after purchasing an additional 347,970 shares during the period. Cornerstone Wealth Management LLC raised its stake in Apple by 18,553.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock valued at $89,526,000 after purchasing an additional 16,668,866 shares during the period. Dimensional Fund Advisors LP raised its stake in Apple by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 16,158,094 shares of the iPhone maker’s stock valued at $2,711,005,000 after purchasing an additional 55,050 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Apple by 4.0% in the second quarter. Fisher Asset Management LLC now owns 12,159,643 shares of the iPhone maker’s stock worth $2,250,872,000 after acquiring an additional 466,888 shares during the last quarter. 57.65% of the stock is currently owned by institutional investors.
Apple stock opened at $176.78 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.09 and a current ratio of 1.12. The firm has a market cap of $868.90 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.26. Apple Inc. has a one year low of $150.24 and a one year high of $233.47.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, November 12th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Thursday, November 8th. Apple’s dividend payout ratio (DPR) is 24.52%.
In other Apple news, insider Chris Kondo sold 3,408 shares of the company’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $190.00, for a total transaction of $647,520.00. Following the completion of the sale, the insider now directly owns 8,940 shares in the company, valued at $1,698,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total transaction of $57,749,196.40. The disclosure for this sale can be found here. Insiders have sold 470,005 shares of company stock valued at $104,764,873 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.
A number of research firms have recently weighed in on AAPL. BidaskClub downgraded shares of Apple from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 12th. Morgan Stanley reaffirmed a “buy” rating and issued a $247.00 price target on shares of Apple in a research note on Wednesday, September 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $272.00 price target on shares of Apple in a research note on Wednesday, October 10th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $240.00 price target on shares of Apple in a research note on Tuesday, September 11th. Finally, Wells Fargo & Co set a $210.00 price target on shares of Apple and gave the stock a “neutral” rating in a research note on Wednesday, September 5th. Three investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and twenty-five have given a buy rating to the stock. Apple presently has a consensus rating of “Hold” and a consensus price target of $223.07.
TRADEMARK VIOLATION NOTICE: “Towerpoint Wealth LLC Sells 5,869 Shares of Apple Inc. (AAPL)” was posted by WKRB News and is the sole property of of WKRB News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.wkrb13.com/2018/11/23/towerpoint-wealth-llc-sells-5869-shares-of-apple-inc-aapl.html.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
Read More: Why is Cost of Capital Important?
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.