Chemistry Wealth Management LLC Decreases Position in Apple Inc. $AAPL

Key Points

• Chemistry Wealth Management LLC has reduced its position in Apple Inc. by 1.4%, holding 101,779 shares valued at approximately $20.88 million.
• In recent insider trading, SVP Deirdre O'Brien sold 34,821 shares of Apple stock, resulting in a 20.30% decrease in her holdings.
• Apple reported a 9.6% year-over-year increase in revenue for its last quarter, reaching $94.04 billion and exceeding analyst estimates.

Chemistry Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,779 shares of the iPhone maker's stock after selling 1,406 shares during the quarter. Apple accounts for approximately 4.5% of Chemistry Wealth Management LLC's portfolio, making the stock its 4th largest holding. Chemistry Wealth Management LLC's holdings in Apple were worth $20,882,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AAPL. ROSS JOHNSON & Associates LLC boosted its holdings in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the last quarter. Life Planning Partners Inc purchased a new position in Apple during the 4th quarter worth $47,000. Elite Financial Inc. purchased a new position in Apple during the 1st quarter worth $58,000. Conquis Financial LLC purchased a new position in shares of Apple in the 4th quarter worth about $63,000. Finally, LSV Asset Management purchased a new position in shares of Apple in the 4th quarter worth about $65,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

NASDAQ AAPL traded down $1.32 during trading on Tuesday, hitting $254.76. 30,536,489 shares of the company's stock traded hands, compared to its average volume of 57,417,355. The stock has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 38.67, a PEG ratio of 2.55 and a beta of 1.11. Apple Inc. has a 12-month low of $169.21 and a 12-month 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 business has a 50 day moving average of $225.30 and a 200-day moving average of $212.22.

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

Apple Announces Dividend

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

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Apple from $255.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday. HSBC set a $220.00 price target on shares of Apple and gave the stock a "hold" rating in a report on Monday, September 8th. Sanford C. Bernstein initiated coverage on shares of Apple in a report on Monday, September 15th. They issued an "outperform" rating and a $290.00 price target on the stock. DA Davidson reissued a "neutral" rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 11th. Finally, Phillip Securities downgraded shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price target on the stock. in a report on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.03.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.06% of the stock is currently owned by corporate insiders.

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.