Schmidt P J Investment Management Inc. reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 160,309 shares of the iPhone maker’s stock after selling 2,625 shares during the quarter. Apple makes up about 6.2% of Schmidt P J Investment Management Inc.’s holdings, making the stock its 3rd largest position. Schmidt P J Investment Management Inc.’s holdings in Apple were worth $31,039,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Parker Financial LLC raised its position in shares of Apple by 1.2% in the second quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock valued at $881,000 after buying an additional 54 shares during the last quarter. MKT Advisors LLC raised its position in shares of Apple by 0.5% in the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after buying an additional 60 shares during the last quarter. Professional Financial Advisors LLC raised its position in shares of Apple by 0.5% in the second quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock valued at $2,563,000 after buying an additional 62 shares during the last quarter. Aspire Capital Advisors LLC raised its position in shares of Apple by 0.5% in the first quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock valued at $2,321,000 after buying an additional 64 shares during the last quarter. Finally, Legacy Financial Group LLC raised its position in shares of Apple by 0.6% in the second quarter. Legacy Financial Group LLC now owns 10,949 shares of the iPhone maker’s stock valued at $2,124,000 after buying an additional 64 shares during the last quarter. 58.51% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Apple
In other Apple news, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the transaction, the chief financial officer now owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Apple news, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the transaction, the chief financial officer now owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 455,004 shares of company stock valued at $79,238,767. Company insiders own 0.06% of the company’s stock.
Apple Stock Down 0.5 %
Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Apple had a net margin of 24.68% and a return on equity of 164.92%. The business had revenue of $89.50 billion for the quarter, compared to analysts’ expectations of $89.34 billion. During the same quarter last year, the company earned $1.29 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 6.05 EPS for the current year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, November 10th. This represents a $0.96 annualized dividend and a yield of 0.54%. Apple’s payout ratio is 16.13%.
Analyst Ratings Changes
Several brokerages recently commented on AAPL. Wedbush reaffirmed an “outperform” rating and set a $240.00 price target on shares of Apple in a research report on Wednesday. TD Cowen upped their price target on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Apple in a research report on Tuesday, October 31st. Citigroup reaffirmed a “buy” rating and set a $240.00 price target on shares of Apple in a research report on Friday, August 4th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $210.00 price target on shares of Apple in a research report on Thursday, September 28th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.82.
Read Our Latest Analysis on AAPL
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.
Featured Stories
- Five stocks we like better than Apple
- Investing in Vaccines 101: How to Invest in Vaccine Stocks
- MarketBeat Week in Review – 10/30 – 11/3
- Stock Dividend Cuts Happen Are You Ready?
- Shocking uranium play that hedge funds kept hidden
- What is the Euro STOXX 50 Index?
- Dependable dividends: Why utility stocks are on fire
Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL – Free Report).
Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.
