Processus Wealth & Capital Management LLC Trims Position in Apple Inc. $AAPL

Processus Wealth & Capital Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,605 shares of the iPhone maker’s stock after selling 943 shares during the period. Apple comprises about 6.3% of Processus Wealth & Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Processus Wealth & Capital Management LLC’s holdings in Apple were worth $7,921,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. ORG Wealth Partners LLC lifted its holdings in Apple by 14.0% in the second quarter. ORG Wealth Partners LLC now owns 28,091 shares of the iPhone maker’s stock worth $5,840,000 after acquiring an additional 3,454 shares during the last quarter. GoalFusion Wealth Management LLC bought a new position in Apple in the second quarter worth about $1,177,000. Signaturefd LLC lifted its holdings in Apple by 1.3% in the second quarter. Signaturefd LLC now owns 559,032 shares of the iPhone maker’s stock worth $114,697,000 after acquiring an additional 7,314 shares during the last quarter. ORG Partners LLC lifted its holdings in Apple by 3.7% in the second quarter. ORG Partners LLC now owns 40,122 shares of the iPhone maker’s stock worth $8,331,000 after acquiring an additional 1,420 shares during the last quarter. Finally, Rainier Family Wealth Inc. lifted its holdings in Apple by 1.6% in the second quarter. Rainier Family Wealth Inc. now owns 15,406 shares of the iPhone maker’s stock worth $3,161,000 after acquiring an additional 238 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $245.27 on Monday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.64 trillion, a PE ratio of 37.22, a P/E/G ratio of 2.39 and a beta of 1.09. The company’s 50 day simple moving average is $237.61 and its 200 day simple moving average is $215.83.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter last year, the business earned $1.40 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts forecast 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, August 14th. Investors of record on Monday, August 11th 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 was Monday, August 11th. Apple’s dividend payout ratio (DPR) is currently 15.78%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. Tigress Financial raised their target price on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 17th. Wedbush set a $310.00 target price on shares of Apple and gave the stock an “outperform” rating in a report on Monday, September 22nd. Raymond James Financial reissued an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Finally, CLSA raised Apple to a “strong-buy” rating in a report on Sunday, October 5th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $248.29.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock worth $64,320,190 over the last quarter. 0.06% of the stock is currently owned by company insiders.

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.