Apple Inc. (NASDAQ:AAPL) is Beech Hill Advisors Inc.’s Largest Position

Beech Hill Advisors Inc. lessened its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 11.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,425 shares of the iPhone maker’s stock after selling 8,662 shares during the period. Apple makes up approximately 4.9% of Beech Hill Advisors Inc.’s holdings, making the stock its largest position. Beech Hill Advisors Inc.’s holdings in Apple were worth $9,082,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Donald L. Hagan LLC lifted its stake in Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after purchasing an additional 61 shares in the last quarter. Goodwin Daniel L lifted its stake in Apple by 0.5% in the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after purchasing an additional 62 shares in the last quarter. Opus Capital Group LLC lifted its stake in Apple by 0.3% in the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after purchasing an additional 63 shares in the last quarter. Norwood Financial Corp raised its position in shares of Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after buying an additional 65 shares in the last quarter. Finally, Investors Research Corp raised its position in shares of Apple by 0.4% during the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock valued at $2,814,000 after buying an additional 66 shares in the last quarter. Institutional investors own 57.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AAPL shares. Fundamental Research set a $177.07 target price on shares of Apple and gave the company a “buy” rating in a research report on Thursday, August 4th. Oppenheimer restated an “outperform” rating and set a $190.00 target price on shares of Apple in a research report on Wednesday, June 8th. Credit Suisse Group set a $201.00 target price on shares of Apple in a research report on Thursday, September 8th. Deutsche Bank Aktiengesellschaft set a $175.00 target price on shares of Apple in a research report on Monday, August 1st. Finally, Monness Crespi & Hardt started coverage on shares of Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $181.68.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the 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 sale, the senior vice president now directly 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. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

NASDAQ AAPL opened at $156.90 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86. The firm’s 50 day moving average price is $159.84 and its 200-day moving average price is $155.88. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a market cap of $2.52 trillion, a PE ratio of 25.89, a P/E/G ratio of 1.95 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same period last year, the firm earned $1.30 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given 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 yield of 0.59%. Apple’s payout ratio is 15.18%.

Apple Company 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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