Leo Wealth LLC Sells 66,248 Shares of Apple Inc. $AAPL

Key Points

• Leo Wealth LLC has reduced its stake in Apple Inc. by 48.9%, now holding 69,169 shares valued at approximately $15.37 million.
• Large investors have shown varied activity with Apple, including Norges Bank acquiring a stake worth about $46.87 billion and GAMMA Investing LLC increasing its stake significantly by over 25,000%.
• Apple recently reported earnings of $1.57 per share, surpassing analyst expectations and showing a 9.6% year-over-year revenue growth to $94.04 billion.

Leo Wealth LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 48.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,169 shares of the iPhone maker's stock after selling 66,248 shares during the period. Apple comprises 2.2% of Leo Wealth LLC's holdings, making the stock its 8th largest holding. Leo Wealth LLC's holdings in Apple were worth $15,365,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AAPL. Norges Bank acquired a new stake in Apple in the fourth quarter valued at approximately $46,868,648,000. GAMMA Investing LLC raised its stake in Apple by 25,934.1% during the first quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock worth $133,425,490,000 after buying an additional 59,835,676 shares during the last quarter. Vanguard Group Inc. increased its stake in Apple by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Apple by 23,555.4% in the fourth quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Apple by 13.3% during the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insiders Place Their Bets

In related news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total value of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of Apple from an "underperform" rating to a "hold" rating in a report on Friday, July 18th. UBS Group upped their target price on shares of Apple from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Bank of America reaffirmed a "buy" rating and set a $250.00 target price on shares of Apple in a report on Monday, August 25th. Rosenblatt Securities reissued a "neutral" rating and issued a $217.00 price target on shares of Apple in a research note on Tuesday, July 29th. Finally, Barclays upped their price objective on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.37.

Apple Stock Performance

AAPL opened at $232.14 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a market cap of $3.45 trillion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.43 and a beta of 1.16. The company's 50 day moving average is $215.79 and its 200 day moving average is $213.08.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed 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 (DPR) is presently 15.78%.

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.

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