Whitaker Myers Wealth Managers LTD. Has $3.31 Million Stake in Apple Inc. $AAPL

Key Points

• Whitaker Myers Wealth Managers LTD. reduced its holdings in Apple Inc. by 13.1% during the 2nd quarter, now owning 16,119 shares valued at approximately $3.3 million.
• Analysts maintain a generally positive outlook on Apple's stock, with a consensus rating of "Moderate Buy" and a price target of $241.93.
• Apple recently announced a quarterly dividend of $0.26 per share, resulting in an annualized yield of 0.4%.

Whitaker Myers Wealth Managers LTD. lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 13.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,119 shares of the iPhone maker's stock after selling 2,439 shares during the quarter. Apple comprises approximately 0.8% of Whitaker Myers Wealth Managers LTD.'s investment portfolio, making the stock its 19th biggest holding. Whitaker Myers Wealth Managers LTD.'s holdings in Apple were worth $3,307,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. First National Bank of Hutchinson grew its holdings in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC boosted its position in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after acquiring an additional 272 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after purchasing an additional 2,695 shares during the last quarter. Finally, Highview Capital Management LLC DE lifted its position in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after purchasing an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of analyst reports. Wedbush set a $310.00 price objective on Apple and gave the stock an "outperform" rating in a research note on Monday. Rosenblatt Securities upped their price target on shares of Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 25th. Bank of America boosted their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, Monness Crespi & Hardt lifted their price target on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of "Moderate Buy" and an average target price of $244.03.

Apple Price Performance

AAPL stock traded up $10.58 during midday trading on Monday, reaching $256.08. The company had a trading volume of 105,286,841 shares, compared to its average volume of 53,632,036. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The stock has a 50 day moving average price of $225.30 and a 200-day moving average price of $212.22. 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 company has a market capitalization of $3.80 trillion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 2.55 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the firm earned $1.40 EPS. The business's quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

About Apple

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.