Capital Investment Services of America Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,695 shares of the iPhone maker’s stock after selling 63 shares during the quarter. Capital Investment Services of America Inc.’s holdings in Apple were worth $1,881,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Janiczek Wealth Management LLC increased its holdings in shares of Apple by 2.6% during the second quarter. Janiczek Wealth Management LLC now owns 20,765 shares of the iPhone maker’s stock valued at $4,028,000 after acquiring an additional 530 shares in the last quarter. Arkansas Financial Group Inc. increased its holdings in shares of Apple by 49.7% during the second quarter. Arkansas Financial Group Inc. now owns 3,891 shares of the iPhone maker’s stock valued at $755,000 after acquiring an additional 1,291 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Apple by 4.3% during the second quarter. Brookstone Capital Management now owns 463,100 shares of the iPhone maker’s stock valued at $88,304,000 after acquiring an additional 18,983 shares in the last quarter. Brickley Wealth Management increased its holdings in shares of Apple by 30.0% during the second quarter. Brickley Wealth Management now owns 293,531 shares of the iPhone maker’s stock valued at $56,936,000 after acquiring an additional 67,738 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its holdings in shares of Apple by 8.7% during the second quarter. Kathmere Capital Management LLC now owns 55,206 shares of the iPhone maker’s stock valued at $10,708,000 after acquiring an additional 4,416 shares in the last quarter. 58.51% of the stock is currently owned by institutional investors.
Apple Stock Up 0.5 %
Shares of AAPL opened at $174.79 on Friday. The business’s 50 day moving average is $183.68 and its 200 day moving average is $176.04. The company has a market capitalization of $2.73 trillion, a PE ratio of 29.38, a price-to-earnings-growth ratio of 2.56 and a beta of 1.27. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63.
Apple Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s payout ratio is 16.13%.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 15,419 shares of Apple 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 sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Piper Sandler lifted their price objective on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Apple in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 24th. Canaccord Genuity Group lifted their price objective on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, Jefferies Financial Group reduced their price objective on Apple from $225.00 to $220.00 and set a “buy” rating for the company in a report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $199.41.
Read Our Latest Report on Apple
About Apple
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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