Towerpoint Wealth LLC Sells 5,869 Shares of Apple Inc. (AAPL)

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.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.13. The firm had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. Apple had a net margin of 22.41% and a return on equity of 48.68%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.07 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 13.35 EPS for the current fiscal year.

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.

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Apple Profile

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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