Adalta Capital Management LLC Has $1.95 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Adalta Capital Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,174 shares of the iPhone maker’s stock after selling 825 shares during the quarter. Apple accounts for approximately 1.0% of Adalta Capital Management LLC’s investment portfolio, making the stock its 25th biggest position. Adalta Capital Management LLC’s holdings in Apple were worth $1,951,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Joseph Group Capital Management acquired a new stake in shares of Apple in the 4th quarter valued at $1,631,000. Cardinal Capital Management Inc. boosted its holdings in shares of 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 purchasing an additional 221 shares in the last quarter. Shore Point Advisors LLC acquired a new stake in shares of Apple in the 4th quarter valued at $41,000. Emerson Wealth LLC boosted its holdings in shares of Apple by 363.6% in the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp lifted its stake 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 valued at $74,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Insider Buying and Selling at Apple

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 completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The shares were 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 of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $150.70 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The stock has a 50-day moving average of $159.58 and a 200-day moving average of $156.18. The company has a market cap of $2.42 trillion, a PE ratio of 24.87, a P/E/G ratio of 2.01 and a beta of 1.23. Apple Inc. has a one year low of $129.04 and a one year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued 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 the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $1.30 EPS. On average, equities research analysts predict that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders 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 yield of 0.61%. Apple’s dividend payout ratio (DPR) is currently 15.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Sanford C. Bernstein set a $170.00 price target on Apple in a research note on Monday, September 12th. JPMorgan Chase & Co. set a $200.00 price target on Apple in a research note on Monday, September 12th. Citigroup increased their price target on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, July 29th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $139.00 price target on shares of Apple in a research note on Thursday, September 8th. Finally, Rosenblatt Securities dropped their price target on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, July 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $181.52.

Apple Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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