MorganRosel Wealth Management LLC Sells 266 Shares of Apple Inc. $AAPL

MorganRosel Wealth Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,088 shares of the iPhone maker’s stock after selling 266 shares during the quarter. Apple comprises about 0.8% of MorganRosel Wealth Management LLC’s holdings, making the stock its 27th largest position. MorganRosel Wealth Management LLC’s holdings in Apple were worth $2,891,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Ryan Investment Management Inc. purchased a new stake in shares of Apple in the second quarter worth about $31,000. ROSS JOHNSON & Associates LLC increased its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. Nexus Investment Management ULC lifted its stake in Apple by 333.3% in the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after purchasing an additional 200 shares in the last quarter. LSV Asset Management bought a new position in Apple in the 4th quarter valued at $65,000. Finally, Elite Financial Inc. purchased a new position in shares of Apple during the 1st quarter valued at $58,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Up 0.2%

Shares of NASDAQ AAPL opened at $277.55 on Friday. The stock has a market capitalization of $4.10 trillion, a P/E ratio of 42.12, a PEG ratio of 2.62 and a beta of 1.09. Apple Inc. has a one year low of $169.21 and a one year high of $280.38. The firm’s 50 day simple moving average is $262.61 and its two-hundred day simple moving average is $231.12. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter in the prior year, the company earned $1.64 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio (DPR) is 13.92%.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 228,052 shares of company stock valued at $58,604,588. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AAPL. Melius Research set a $345.00 target price on Apple in a research report on Friday, October 31st. Rosenblatt Securities lifted their price target on Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Loop Capital raised Apple from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $226.00 to $315.00 in a report on Monday, October 20th. Barclays raised their target price on shares of Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Finally, CLSA raised shares of Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.22.

Apple 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.