Paragon Capital Management Ltd cut its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,637 shares of the iPhone maker’s stock after selling 934 shares during the period. Apple comprises 1.0% of Paragon Capital Management Ltd’s portfolio, making the stock its 18th biggest position. Paragon Capital Management Ltd’s holdings in Apple were worth $4,585,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Ilmarinen Mutual Pension Insurance Co raised its position in shares of Apple by 8.3% in the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 785,000 shares of the iPhone maker’s stock worth $129,447,000 after acquiring an additional 60,000 shares in the last quarter. Starfox Financial Services LLC raised its position in shares of Apple by 21.5% in the 4th quarter. Starfox Financial Services LLC now owns 1,900 shares of the iPhone maker’s stock worth $247,000 after acquiring an additional 336 shares in the last quarter. Arista Wealth Management LLC increased its position in Apple by 1.0% during the 1st quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock valued at $4,399,000 after buying an additional 261 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Apple by 2.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 3,919,534 shares of the iPhone maker’s stock valued at $646,332,000 after buying an additional 89,615 shares in the last quarter. Finally, New England Research & Management Inc. increased its position in Apple by 3.3% during the 2nd quarter. New England Research & Management Inc. now owns 29,606 shares of the iPhone maker’s stock valued at $5,743,000 after buying an additional 949 shares in the last quarter. 58.51% of the stock is owned by institutional investors.
Insider Activity at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Free Report) last announced its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter in the prior year, the firm earned $1.20 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 6.05 EPS for the current fiscal year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. Apple’s dividend payout ratio is presently 16.13%.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on AAPL. Piper Sandler upped their target price on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. Robert W. Baird upped their target price on Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Apple in a research report on Wednesday, September 13th. Citigroup reaffirmed a “buy” rating and set a $240.00 target price on shares of Apple in a research report on Friday, August 4th. Finally, 51job reaffirmed a “maintains” rating on shares of Apple in a research report on Friday, June 2nd. Ten equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.41.
Check Out Our Latest Stock Analysis on AAPL
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.
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