Chickasaw Capital Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,629 shares of the iPhone maker’s stock after selling 940 shares during the period. Apple makes up approximately 1.4% of Chickasaw Capital Management LLC’s portfolio, making the stock its 15th biggest position. Chickasaw Capital Management LLC’s holdings in Apple were worth $25,338,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. Atlantic Private Wealth LLC bought a new stake in Apple in the 1st quarter valued at about $30,000. St. James Investment Advisors LLC boosted its stake in Apple by 98.3% during the 4th quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Summit Wealth Group LLC boosted its stake in Apple by 16,252.3% during the 1st quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 6,949,659 shares during the last quarter. HBC Financial Services PLLC boosted its stake in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in Apple during the 4th quarter valued at about $93,000. 58.51% of the stock is owned by institutional investors.
Analysts Set New Price Targets
AAPL has been the subject of a number of analyst reports. Wedbush lifted their price target on Apple from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 13th. Piper Sandler lifted their price target on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. 51job restated a “maintains” rating on shares of Apple in a research note on Friday, June 2nd. Oppenheimer boosted their target price on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Finally, KeyCorp restated an “overweight” rating and issued a $200.00 target price on shares of Apple in a research note on Thursday, September 14th. Ten investment analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.41.
Insider Buying and Selling
In related news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were 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 in the company, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.
Apple Price Performance
Shares of AAPL opened at $171.21 on Friday. The company has a market capitalization of $2.68 trillion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 2.48 and a beta of 1.27. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average of $181.22 and a 200 day moving average of $176.93. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23.
Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The company had revenue of $81.80 billion for the quarter, compared to analysts’ expectations of $81.79 billion. During the same quarter last year, the company posted $1.20 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that Apple Inc. will post 6.05 earnings per share for the current fiscal year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio is currently 16.13%.
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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