Apple Inc. (NASDAQ:AAPL) Shares Sold by GenWealth Group Inc.

GenWealth Group Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,848 shares of the iPhone maker’s stock after selling 293 shares during the quarter. Apple makes up approximately 0.5% of GenWealth Group Inc.’s holdings, making the stock its 28th largest position. GenWealth Group Inc.’s holdings in Apple were worth $1,720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AAPL. State Street Corp raised its stake in Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock valued at $112,422,274,000 after acquiring an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC raised its stake in Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock valued at $46,812,958,000 after acquiring an additional 4,456,954 shares in the last quarter. Norges Bank bought a new stake in Apple during the 4th quarter valued at $25,228,507,000. Charles Schwab Investment Management Inc. raised its stake in Apple by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 79,583,859 shares of the iPhone maker’s stock valued at $14,131,710,000 after acquiring an additional 1,273,148 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Apple by 1.6% during the 4th quarter. Parametric Portfolio Associates LLC now owns 55,610,954 shares of the iPhone maker’s stock valued at $9,874,837,000 after acquiring an additional 871,249 shares in the last quarter. Institutional investors and hedge funds own 57.62% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $163.62 on Monday. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The business has a 50-day moving average of $154.62 and a two-hundred day moving average of $157.03. The stock has a market capitalization of $2.63 trillion, a P/E ratio of 27.00, a P/E/G ratio of 2.16 and a beta of 1.23. 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 (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping 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 company had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 6.1 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.56%. Apple’s dividend payout ratio is currently 15.18%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research reports. Fundamental Research set a $177.07 price objective on Apple and gave the stock a “buy” rating in a research note on Thursday, August 4th. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a research note on Monday, August 22nd. Wedbush boosted their price objective on Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. set a $175.00 price objective on Apple in a research note on Friday, July 29th. Finally, Barclays dropped their price objective on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $181.18.

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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