Traveka Wealth LLC Sells 1,051 Shares of Apple Inc. $AAPL

Key Points

• Traveka Wealth LLC reduced its stake in Apple Inc. by 4.3%, selling 1,051 shares and holding a total of 23,328 shares valued at approximately $4.79 million.
• Institutional investors collectively hold 67.73% of Apple’s stock, with major holdings being increased by firms like Vanguard Group and Kingstone Capital Partners during the recent quarters.
• Analysts have given Apple stock a "Moderate Buy" average rating, with price targets varying from $240.00 to $305.00, reflecting overall positive sentiment despite varying individual ratings.

Traveka Wealth LLC lessened its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,328 shares of the iPhone maker's stock after selling 1,051 shares during the quarter. Apple accounts for approximately 2.5% of Traveka Wealth LLC's portfolio, making the stock its 12th largest holding. Traveka Wealth LLC's holdings in Apple were worth $4,786,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Apple by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock valued at $311,157,662,000 after acquiring an additional 5,005,297 shares during the period. Kingstone Capital Partners Texas LLC grew its holdings in Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker's stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. Northern Trust Corp grew its holdings in Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after buying an additional 13,137,968 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Apple by 1.0% in the first quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker's stock worth $21,790,933,000 after buying an additional 984,157 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AAPL shares. Tigress Financial raised their target price on shares of Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 17th. CLSA upgraded shares of Apple to a "strong-buy" rating in a report on Sunday, October 5th. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Friday, July 25th. Raymond James Financial reaffirmed an "outperform" rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Finally, Morgan Stanley set a $298.00 price target on shares of Apple and gave the company an "overweight" rating in a report on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Apple has an average rating of "Moderate Buy" and an average target price of $248.29.

Apple Price Performance

NASDAQ:AAPL opened at $254.04 on Friday. The firm has a market cap of $3.77 trillion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company's 50-day moving average is $236.75 and its two-hundred day moving average is $215.77.

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

Apple Announces Dividend

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

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of the firm's stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the transaction, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Deirdre O'brien sold 43,013 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock valued at $64,320,190 over the last three months. Company insiders own 0.06% of the company's stock.

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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