Greenspring Advisors LLC cut its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 8.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,235 shares of the iPhone maker’s stock after selling 3,365 shares during the period. Apple comprises approximately 2.3% of Greenspring Advisors LLC’s holdings, making the stock its 6th largest holding. Greenspring Advisors LLC’s holdings in Apple were worth $7,416,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Ilmarinen Mutual Pension Insurance Co increased its position in shares of Apple by 8.3% during the 1st quarter. Ilmarinen Mutual Pension Insurance Co now owns 785,000 shares of the iPhone maker’s stock worth $129,447,000 after purchasing an additional 60,000 shares in the last quarter. Arista Wealth Management LLC increased its position in shares of Apple by 1.0% during the 1st quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock worth $4,399,000 after purchasing an additional 261 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Apple by 2.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 3,919,534 shares of the iPhone maker’s stock worth $646,332,000 after purchasing an additional 89,615 shares in the last quarter. My Personal CFO LLC grew its position in Apple by 4.1% during the 2nd quarter. My Personal CFO LLC now owns 26,276 shares of the iPhone maker’s stock worth $5,097,000 after acquiring an additional 1,047 shares during the last quarter. Finally, M. Kraus & Co grew its position in Apple by 0.9% during the 2nd quarter. M. Kraus & Co now owns 29,416 shares of the iPhone maker’s stock worth $5,706,000 after acquiring an additional 276 shares during the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.
Apple Stock Down 0.7 %
NASDAQ:AAPL opened at $175.84 on Thursday. Apple Inc. has a 1 year low of $124.17 and a 1 year 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. The stock has a market cap of $2.75 trillion, a price-to-earnings ratio of 29.55, a PEG ratio of 2.40 and a beta of 1.28. The stock has a 50-day moving average price of $177.94 and a two-hundred day moving average price of $178.77.
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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio is 16.13%.
Wall Street Analyst Weigh In
AAPL has been the topic of a number of research analyst reports. Barclays restated an “equal weight” rating and set a $167.00 price target on shares of Apple in a research report on Monday, October 9th. Rosenblatt Securities reiterated a “neutral” rating and set a $198.00 price target on shares of Apple in a research report on Tuesday, September 12th. Sanford C. Bernstein reiterated a “market perform” rating and set a $195.00 price target on shares of Apple in a research report on Monday, October 9th. Raymond James upped their price target on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Nine research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.40.
Get Our Latest Report on Apple
Insider Buying and Selling at Apple
In other Apple news, CEO Timothy D. Cook sold 240,569 shares of Apple 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 sale, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders have sold 455,004 shares of company stock valued at $79,238,767 in the last 90 days. 0.06% of the stock is currently owned by company insiders.
Apple Profile
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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