1832 Asset Management L.P. Sells 52,185 Shares of Apple Inc. (NASDAQ:AAPL)

1832 Asset Management L.P. decreased its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.6% during the first quarter, HoldingsChannel.com reports. The fund owned 7,988,408 shares of the iPhone maker’s stock after selling 52,185 shares during the period. Apple makes up 2.2% of 1832 Asset Management L.P.’s holdings, making the stock its 4th largest position. 1832 Asset Management L.P.’s holdings in Apple were worth $1,375,767,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Cardinal Capital Management Inc. grew its holdings in Apple by 5,525.0% in the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC bought a new stake in shares of Apple in the 4th quarter worth approximately $41,000. HBC Financial Services PLLC lifted its position in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the period. Emerson Wealth LLC lifted its position in shares of Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after acquiring an additional 320 shares during the period. Finally, Econ Financial Services Corp lifted its position in shares of Apple by 29.1% in the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Stock Up 3.9 %

NASDAQ AAPL opened at $163.43 on Tuesday. The stock has a fifty day moving average of $158.47 and a 200-day moving average of $156.30. The stock has a market capitalization of $2.63 trillion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. On average, equities research analysts forecast that Apple Inc. will post 6.11 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.56%. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Analyst Upgrades and Downgrades

A number of analysts have commented on AAPL shares. Itau BBA Securities started coverage on Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective for the company. Citigroup raised their price objective on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Credit Suisse Group set a $201.00 price objective on Apple in a research report on Thursday, September 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $139.00 price objective on shares of Apple in a research report on Thursday, September 8th. Finally, Oppenheimer restated an “outperform” rating and set a $190.00 target price on shares of Apple in a research report on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.31.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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