FRG Family Wealth Advisors LLC Reduces Stake in Apple Inc. (NASDAQ:AAPL)

FRG Family Wealth Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,425 shares of the iPhone maker’s stock after selling 572 shares during the period. Apple comprises approximately 3.4% of FRG Family Wealth Advisors LLC’s investment portfolio, making the stock its 6th largest holding. FRG Family Wealth Advisors LLC’s holdings in Apple were worth $14,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Joseph Group Capital Management purchased a new stake in shares of Apple during the 4th quarter valued at $1,631,000. Cardinal Capital Management Inc. increased its position in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares during the last quarter. Shore Point Advisors LLC purchased a new stake in shares of Apple during the 4th quarter valued at $41,000. Spence Asset Management purchased a new stake in shares of Apple during the 2nd quarter valued at $49,000. Finally, Emerson Wealth LLC increased its position in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares during the last quarter. 57.72% of the stock is currently owned by institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $152.74 on Friday. The business has a 50 day moving average of $160.31 and a 200 day moving average of $155.83. The company has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.03 and a beta of 1.23. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. 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 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 EPS. On average, sell-side analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.60%. Apple’s payout ratio is 15.18%.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. Itaú Unibanco initiated coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. Rosenblatt Securities decreased their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, July 29th. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a report on Monday, September 12th. Morgan Stanley decreased their price objective on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Finally, Fundamental Research set a $177.07 price objective on Apple and gave the stock a “buy” rating in a report on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $181.68.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the company’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 completion of the sale, the senior vice president now 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. 0.06% of the stock is owned by insiders.

Apple Company 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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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