Intercontinental Wealth Advisors LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Intercontinental Wealth Advisors LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 24.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,611 shares of the iPhone maker’s stock after selling 1,822 shares during the period. Intercontinental Wealth Advisors LLC’s holdings in Apple were worth $1,257,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Roanoke Asset Management Corp NY boosted its holdings in Apple by 1.1% during the second quarter. Roanoke Asset Management Corp NY now owns 4,412 shares of the iPhone maker’s stock worth $873,000 after buying an additional 50 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in Apple by 0.4% during the second quarter. Guardian Life Insurance Co. of America now owns 12,970 shares of the iPhone maker’s stock worth $2,567,000 after acquiring an additional 51 shares during the period. Monument Capital Management raised its position in Apple by 2.2% during the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock worth $491,000 after acquiring an additional 53 shares during the period. Landmark Financial Advisors LLC raised its position in Apple by 0.7% during the second quarter. Landmark Financial Advisors LLC now owns 7,357 shares of the iPhone maker’s stock worth $1,456,000 after acquiring an additional 53 shares during the period. Finally, MA Private Wealth raised its position in Apple by 0.3% during the second quarter. MA Private Wealth now owns 16,134 shares of the iPhone maker’s stock worth $3,193,000 after acquiring an additional 56 shares during the period. 58.63% of the stock is currently owned by institutional investors and hedge funds.

AAPL stock traded up $2.63 during mid-day trading on Wednesday, hitting $227.03. 10,164,630 shares of the company were exchanged, compared to its average volume of 28,888,346. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $1,014.10 billion, a P/E ratio of 19.06, a PEG ratio of 2.00 and a beta of 1.24. The business has a fifty day simple moving average of $215.63 and a 200-day simple moving average of $202.07. Apple Inc. has a 12-month low of $142.00 and a 12-month high of $229.93.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.08. The company had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. Apple’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 earnings per share. Research analysts predict that Apple Inc. will post 11.68 EPS for the current year.

In other Apple news, Director Arthur D. Levinson sold 17,500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the completion of the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at $232,101,423.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 265,160 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $206.17, for a total transaction of $54,668,037.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 372,090 shares of company stock valued at $77,691,639. 0.05% of the stock is currently owned by insiders.

AAPL has been the subject of a number of research analyst reports. Canaccord Genuity restated a “buy” rating and set a $260.00 price objective (up from $240.00) on shares of Apple in a research report on Wednesday. Deutsche Bank set a $210.00 price objective on shares of Apple and gave the stock a “hold” rating in a research report on Tuesday, September 24th. ValuEngine cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Monday. Jefferies Financial Group upgraded shares of Apple from a “hold” rating to a “buy” rating and upped their price objective for the stock from $210.00 to $260.00 in a research report on Tuesday, September 24th. Finally, Needham & Company LLC upped their price objective on shares of Apple from $225.00 to $250.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 11th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $221.64.

Apple Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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