Apple Inc. (NASDAQ:AAPL) Shares Sold by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp lessened its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 241,004 shares of the iPhone maker’s stock after selling 6,657 shares during the period. Apple makes up 0.8% of CHURCHILL MANAGEMENT Corp’s portfolio, making the stock its 15th largest position. CHURCHILL MANAGEMENT Corp’s holdings in Apple were worth $32,950,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cardinal Capital Management Inc. increased its position in Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the period. Shore Point Advisors LLC acquired a new position in Apple during the 4th quarter worth approximately $41,000. CFS Investment Advisory Services LLC increased its position in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after purchasing an additional 7,416,445 shares during the period. Spence Asset Management acquired a new position in Apple during the 2nd quarter worth approximately $49,000. Finally, HBC Financial Services PLLC increased its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

Insider Transactions at Apple

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Citigroup boosted their price target on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Barclays set a $169.00 price target on Apple in a research note on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research note on Monday, August 1st. Finally, Rosenblatt Securities decreased their price target on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $181.52.

Apple Trading Up 2.5 %

AAPL stock opened at $154.48 on Tuesday. The company has a market cap of $2.48 trillion, a price-to-earnings ratio of 25.49, a PEG ratio of 1.95 and a beta of 1.23. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $159.65 and a 200-day simple moving average of $155.94. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.06. The business 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 business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. On average, equities research analysts expect that Apple Inc. will post 6.11 EPS for the current year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. Apple’s payout ratio is 15.18%.

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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