Horst & Graben Wealth Management LLC Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Horst & Graben Wealth Management LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,095 shares of the iPhone maker’s stock after selling 726 shares during the period. Apple comprises 1.4% of Horst & Graben Wealth Management LLC’s holdings, making the stock its 18th biggest holding. Horst & Graben Wealth Management LLC’s holdings in Apple were worth $7,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Kingdom Financial Group LLC. lifted its position in shares of Apple by 5.5% in the 3rd quarter. Kingdom Financial Group LLC. now owns 11,464 shares of the iPhone maker’s stock worth $1,963,000 after purchasing an additional 598 shares during the period. RFG Advisory LLC lifted its position in shares of Apple by 13.6% in the 3rd quarter. RFG Advisory LLC now owns 172,823 shares of the iPhone maker’s stock worth $29,589,000 after purchasing an additional 20,737 shares during the period. Headinvest LLC lifted its position in shares of Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock worth $9,236,000 after purchasing an additional 872 shares during the period. Sound Income Strategies LLC lifted its position in shares of Apple by 16.1% in the 4th quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock worth $14,461,000 after purchasing an additional 10,425 shares during the period. Finally, DNB Asset Management AS lifted its position in shares of Apple by 6.9% in the 4th quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after purchasing an additional 279,311 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other news, Director Arthur D. Levinson sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Timothy D. Cook sold 99,183 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the completion of the transaction, the chief executive officer now owns 3,377,407 shares of the company’s stock, valued at $574,260,512.21. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Arthur D. Levinson sold 100,000 shares of Apple stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $180.94, for a total transaction of $18,094,000.00. Following the completion of the transaction, the director now owns 4,434,576 shares of the company’s stock, valued at approximately $802,392,181.44. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock worth $63,653,887 over the last three months. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL traded down $0.59 during midday trading on Friday, hitting $169.30. 44,717,137 shares of the company traded hands, compared to its average volume of 53,363,952. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $2.61 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.04 and a beta of 1.27. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $199.62. The business has a 50 day simple moving average of $173.04 and a two-hundred day simple moving average of $181.83.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.09. The firm had revenue of $119.60 billion for the quarter, compared to the consensus estimate of $117.99 billion. Apple had a net margin of 26.16% and a return on equity of 156.04%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.88 earnings per share. On average, equities analysts forecast that Apple Inc. will post 6.54 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 12th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, February 9th. Apple’s dividend payout ratio is presently 14.95%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Redburn Partners lowered shares of Apple to a “neutral” rating and set a $200.00 price objective for the company. in a research note on Wednesday, January 10th. Barclays reiterated an “underweight” rating and set a $158.00 price objective on shares of Apple in a research note on Tuesday, April 23rd. UBS Group reiterated a “hold” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, March 25th. Rosenblatt Securities reiterated a “neutral” rating and set a $189.00 price objective on shares of Apple in a research note on Tuesday, March 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Apple in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $203.05.

Apple Company 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.