Apple Inc. (NASDAQ:AAPL) Shares Sold by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC lowered its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 8.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,448 shares of the iPhone maker’s stock after selling 11,536 shares during the quarter. Apple accounts for approximately 4.3% of Meridian Wealth Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Meridian Wealth Advisors LLC’s holdings in Apple were worth $16,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CFS Investment Advisory Services LLC increased its position in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after purchasing an additional 7,416,445 shares during the period. Spence Asset Management acquired a new stake in Apple during the 2nd quarter valued at approximately $49,000. HBC Financial Services PLLC increased its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the period. Emerson Wealth LLC increased its position in 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 period. Finally, Econ Financial Services Corp increased its position in Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research report on Monday. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a report on Monday, August 1st. Bank of America cut Apple from a “buy” rating to a “neutral” rating and cut their price target for the stock from $185.00 to $160.00 in a report on Thursday, September 29th. Evercore ISI increased their price target on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, September 20th. Finally, Monness Crespi & Hardt started coverage on Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $180.25.

Apple Trading Down 2.0 %

Shares of AAPL stock opened at $149.35 on Thursday. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The company has a 50-day simple moving average of $152.39 and a two-hundred day simple moving average of $151.92. The company has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.81 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 EPS. Research analysts anticipate that Apple Inc. will post 6.11 EPS for the current fiscal year.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Apple news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 176,299 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the completion of the transaction, the senior vice president now owns 136,290 shares in the company, valued at $19,374,986.40. The disclosure for this sale can be found here. Insiders have sold a total of 306,087 shares of company stock worth $47,252,854 over the last three months. 0.06% of the stock is currently owned by insiders.

About Apple

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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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