Cacti Asset Management LLC Sells 27,980 Shares of Apple Inc. (NASDAQ:AAPL)

Cacti Asset Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 586,492 shares of the iPhone maker’s stock after selling 27,980 shares during the quarter. Apple comprises 7.5% of Cacti Asset Management LLC’s portfolio, making the stock its biggest holding. Cacti Asset Management LLC’s holdings in Apple were worth $80,185,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Cardinal Capital Management Inc. boosted its holdings in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC bought a new stake in Apple during the fourth quarter valued at about $41,000. CFS Investment Advisory Services LLC boosted its holdings in Apple by 18,263.5% during the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after acquiring an additional 7,416,445 shares during the period. HBC Financial Services PLLC boosted its holdings in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. Finally, Emerson Wealth LLC boosted its holdings in Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 320 shares during the period. 57.72% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 1.1 %

Shares of NASDAQ AAPL opened at $150.70 on Friday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. 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. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The company has a 50-day moving average of $159.58 and a two-hundred day moving average of $156.18.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The company had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the previous year, the firm posted $1.30 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is presently 15.18%.

Analyst Ratings Changes

Several research firms recently weighed in on AAPL. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research note on Monday, September 12th. Evercore ISI increased their target price on shares of Apple from $180.00 to $185.00 in a research note on Friday, July 29th. Itau BBA Securities began coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 target price for the company. KeyCorp increased their target price on shares of Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, August 19th. Finally, set a $175.00 target price on shares of Apple in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.52.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’s 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 completion of the transaction, 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 is available at this hyperlink. In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

About Apple

(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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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