Centurion Wealth Management LLC Has $14.58 Million Stake in Apple Inc. $AAPL

Key Points

• Centurion Wealth Management LLC has reduced its stake in Apple Inc. by 2.3%, making it the firm's second largest position, valued at approximately $14.58 million.
• Apple reported earnings of $1.57 per share for the last quarter, exceeding expectations, with a total revenue of $94.04 billion, representing a 9.6% increase year-over-year.
• The firm announced a quarterly dividend of $0.26 per share, reflecting a 0.4% dividend yield and a payout ratio of 15.78%.

Centurion Wealth Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,047 shares of the iPhone maker's stock after selling 1,699 shares during the quarter. Apple comprises about 4.2% of Centurion Wealth Management LLC's investment portfolio, making the stock its 2nd biggest position. Centurion Wealth Management LLC's holdings in Apple were worth $14,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. ROSS JOHNSON & Associates LLC raised its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after buying an additional 180 shares in the last quarter. Life Planning Partners Inc bought a new position in Apple during the fourth quarter worth $47,000. Elite Financial Inc. acquired a new stake in shares of Apple during the first quarter worth $58,000. Conquis Financial LLC acquired a new position in shares of Apple in the 4th quarter valued at about $63,000. Finally, LSV Asset Management bought a new stake in shares of Apple during the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insiders Place Their Bets

In other news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction 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 transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.06% of the company's stock.

Apple Trading Up 3.2%

AAPL traded up $7.62 during mid-day trading on Friday, reaching $245.50. The stock had a trading volume of 163,435,991 shares, compared to its average volume of 47,568,860. The stock has a market capitalization of $3.64 trillion, a P/E ratio of 37.25, a P/E/G ratio of 2.55 and a beta of 1.11. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm's fifty day simple moving average is $224.35 and its two-hundred day simple moving average is $212.26.

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

Apple Dividend Announcement

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

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. Sanford C. Bernstein began coverage on Apple in a research report on Monday, September 15th. They set an "outperform" rating and a $290.00 price target on the stock. Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective on the stock in a research note on Thursday, September 4th. Rosenblatt Securities upped their target price on Apple from $223.00 to $241.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Phillip Securities cut Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price target on the stock. in a research report on Thursday, September 11th. Finally, Evercore ISI upped their price objective on Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $242.74.

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.