Apple Inc. (NASDAQ:AAPL) Shares Sold by Tower Wealth Partners Inc.

Tower Wealth Partners Inc. decreased its stake in Apple Inc. (NASDAQ:AAPL) by 22.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,252 shares of the iPhone maker’s stock after selling 2,605 shares during the period. Apple accounts for 1.3% of Tower Wealth Partners Inc.’s investment portfolio, making the stock its 15th largest holding. Tower Wealth Partners Inc.’s holdings in Apple were worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AAPL. Atlantic Private Wealth LLC acquired a new position in shares of Apple in the 1st quarter valued at $30,000. Wyrmwood Management LLC boosted its holdings in shares of Apple by 69.0% in the 4th quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. Gilfoyle & Co LLC boosted its holdings in shares of Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares in the last quarter. Summit Wealth Group LLC boosted its stake in Apple by 16,252.3% during the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 6,949,659 shares during the period. Finally, HBC Financial Services PLLC boosted its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Price Performance

Apple stock opened at $165.00 on Friday. Apple Inc. has a 12-month low of $162.80 and a 12-month high of $199.62. The stock has a market capitalization of $2.55 trillion, a P/E ratio of 25.70, a P/E/G ratio of 2.03 and a beta of 1.27. The firm’s 50-day moving average is $174.67 and its two-hundred day moving average is $182.04. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company had revenue of $119.60 billion for the quarter, compared to analysts’ expectations of $117.99 billion. During the same period last year, the company earned $1.88 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.58%. Apple’s dividend payout ratio is currently 14.95%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at approximately $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the sale, the director now directly owns 4,434,576 shares in the company, valued at $802,392,181.44. The disclosure for this sale can be found here. Insiders have sold 366,271 shares of company stock valued at $63,653,887 in the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AAPL shares. DA Davidson started coverage on shares of Apple in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $166.00 price target for the company. Morgan Stanley reiterated an “overweight” rating and set a $220.00 price target on shares of Apple in a research note on Friday, March 22nd. Redburn Atlantic downgraded shares of Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research report on Wednesday, January 10th. DZ Bank restated a “hold” rating and set a $180.00 price objective on shares of Apple in a research report on Thursday, March 28th. Finally, Oppenheimer restated an “outperform” rating and set a $200.00 price objective on shares of Apple in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.34.

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.