Carl P. Sherr & Co. LLC cut its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,391 shares of the iPhone maker’s stock after selling 772 shares during the quarter. Apple makes up approximately 6.9% of Carl P. Sherr & Co. LLC’s investment portfolio, making the stock its 3rd largest position. Carl P. Sherr & Co. LLC’s holdings in Apple were worth $10,550,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. IFM Investors Pty Ltd raised its position in Apple by 20.0% during the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after acquiring an additional 435,891 shares during the period. Ironwood Wealth Management LLC. raised its position in Apple by 0.4% during the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after acquiring an additional 1,040 shares during the period. Markel Corp raised its position in Apple by 0.7% during the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after acquiring an additional 8,450 shares during the period. Camden Capital LLC raised its holdings in shares of Apple by 9.2% during the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after acquiring an additional 13,200 shares during the last quarter. Finally, Harbor Island Capital LLC raised its holdings in shares of Apple by 0.3% during the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.
Apple Stock Performance
Shares of AAPL stock opened at $174.91 on Friday. The firm has a market cap of $2.73 trillion, a price-to-earnings ratio of 29.40, a PEG ratio of 2.31 and a beta of 1.28. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The stock’s 50-day moving average is $179.63 and its two-hundred day moving average is $177.47. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.92 and a current ratio of 0.98.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, August 11th. Apple’s payout ratio is 16.13%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on AAPL. The Goldman Sachs Group reduced their target price on Apple from $222.00 to $216.00 and set a “buy” rating for the company in a report on Wednesday, September 13th. Morgan Stanley reissued an “overweight” rating and set a $215.00 price target on shares of Apple in a research report on Monday, September 25th. Credit Suisse Group reiterated an “outperform” rating and issued a $220.00 price objective on shares of Apple in a report on Friday, September 15th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Apple in a report on Thursday, September 21st. Finally, Evercore ISI reiterated an “outperform” rating and issued a $210.00 target price on shares of Apple in a report on Thursday, September 28th. Nine analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.54.
Check Out Our Latest Stock Analysis on AAPL
Insider Buying and Selling at Apple
In related news, SVP Deirdre O’brien sold 15,419 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total transaction of $2,753,216.64. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 321,524 shares of company stock valued at $55,530,770. 0.06% of the stock is owned by corporate insiders.
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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