Nvest Financial LLC lessened its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 3.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,404 shares of the iPhone maker’s stock after selling 1,190 shares during the period. Apple makes up 5.5% of Nvest Financial LLC’s holdings, making the stock its 5th largest position. Nvest Financial LLC’s holdings in Apple were worth $6,285,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. C2C Wealth Management LLC raised its stake in shares of Apple by 6.1% in the 2nd quarter. C2C Wealth Management LLC now owns 97,346 shares of the iPhone maker’s stock worth $18,909,000 after buying an additional 5,603 shares in the last quarter. PCG Wealth Advisors LLC raised its position in shares of Apple by 5.2% during the second quarter. PCG Wealth Advisors LLC now owns 7,411 shares of the iPhone maker’s stock worth $1,438,000 after purchasing an additional 366 shares during the period. Blossom Wealth Management raised its position in shares of Apple by 39.4% during the second quarter. Blossom Wealth Management now owns 5,216 shares of the iPhone maker’s stock worth $1,012,000 after purchasing an additional 1,475 shares during the period. Lockerman Financial Group Inc. raised its position in shares of Apple by 1.9% during the second quarter. Lockerman Financial Group Inc. now owns 6,914 shares of the iPhone maker’s stock worth $1,341,000 after purchasing an additional 127 shares during the period. Finally, Starfox Financial Services LLC raised its position in shares of Apple by 6.8% during the second quarter. Starfox Financial Services LLC now owns 2,070 shares of the iPhone maker’s stock worth $402,000 after purchasing an additional 132 shares during the period. Institutional investors own 58.51% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on AAPL shares. TD Cowen boosted their target price on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. UBS Group reaffirmed a “neutral” rating and set a $190.00 target price on shares of Apple in a research report on Wednesday, September 27th. Morgan Stanley lowered their price target on Apple from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday. The Goldman Sachs Group lowered their price target on Apple from $222.00 to $216.00 and set a “buy” rating on the stock in a report on Wednesday, September 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $195.00 price target on shares of Apple in a report on Wednesday, September 13th. Nine 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.40.
Insider Buying and Selling at Apple
In other news, CFO Luca Maestri sold 31,685 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the sale, the chief financial officer now directly owns 107,661 shares in the company, valued at approximately $19,237,944.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Deirdre O’brien sold 65,536 shares of the company’s 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 in the company, valued at approximately $23,483,548.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 31,685 shares of the stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the sale, the chief financial officer now owns 107,661 shares in the company, valued at $19,237,944.09. The disclosure for this sale can be found here. Insiders sold a total of 455,004 shares of company stock valued at $79,238,767 in the last quarter. Corporate insiders own 0.06% of the company’s stock.
Apple Trading Down 0.9 %
Apple stock opened at $177.15 on Wednesday. The business has a 50 day moving average price of $177.99 and a two-hundred day moving average price of $178.79. 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 stock has a market cap of $2.77 trillion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 2.40 and a beta of 1.28. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23.
Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.19 by $0.07. The firm had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. As a group, equities analysts forecast that Apple Inc. will post 6.05 EPS for the current year.
Apple Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were issued a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a yield of 0.54%. Apple’s dividend payout ratio (DPR) is 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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