Foster Victor Wealth Advisors LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,044 shares of the iPhone maker’s stock after selling 471 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Apple were worth $4,792,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Atlantic Private Wealth LLC purchased a new stake in shares of Apple during the 1st quarter worth $30,000. Cheyne Capital Management UK LLP raised its stake in Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after buying an additional 550 shares during the last quarter. HBC Financial Services PLLC raised its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares during the last quarter. Clear Perspectives Financial Planning LLC raised its stake in Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after buying an additional 211 shares during the last quarter. Finally, NNS Holding purchased a new stake in Apple in the second quarter valued at about $193,000. Institutional investors own 58.51% of the company’s stock.
Insiders Place Their Bets
In other Apple news, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the sale, the senior vice president now owns 136,445 shares in the company, valued at approximately $23,483,548.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the completion of the sale, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The disclosure for this sale can be found here. Insiders have sold a total of 321,524 shares of company stock worth $55,530,770 in the last quarter. 0.06% of the stock is owned by company insiders.
Apple Price Performance
Apple (NASDAQ:AAPL – Get Free Report) last posted 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 return on equity of 164.92% and a net margin of 24.68%. The firm had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. During the same quarter in the prior year, the company earned $1.20 EPS. Apple’s revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 6.05 earnings per share for the current year.
Apple Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.55%. Apple’s dividend payout ratio (DPR) is 16.13%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Canaccord Genuity Group raised their price objective on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Morgan Stanley restated an “overweight” rating and issued a $215.00 price objective on shares of Apple in a research note on Monday, September 25th. KeyCorp restated an “overweight” rating and issued a $200.00 price objective on shares of Apple in a research note on Thursday, September 14th. Piper Jaffray Companies raised their price objective on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Finally, Citigroup restated a “buy” rating and issued a $240.00 price objective on shares of Apple in a research note on Friday, August 4th. Nine research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.54.
Check Out Our Latest Stock Analysis 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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