Apple Inc. (NASDAQ:AAPL) Shares Sold by Capital Market Strategies LLC

Capital Market Strategies LLC cut its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 69,102 shares of the iPhone maker’s stock after selling 149 shares during the quarter. Apple accounts for 9.9% of Capital Market Strategies LLC’s investment portfolio, making the stock its biggest holding. Capital Market Strategies LLC’s holdings in Apple were worth $9,448,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cardinal Capital Management Inc. raised its holdings in shares of Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new position in shares of Apple in the fourth quarter worth $41,000. CFS Investment Advisory Services LLC raised its holdings in shares of Apple by 18,263.5% in the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after acquiring an additional 7,416,445 shares during the last quarter. Spence Asset Management acquired a new position in shares of Apple in the second quarter worth $49,000. Finally, HBC Financial Services PLLC raised its holdings in shares of Apple by 21.7% in the first 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 last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on AAPL. JPMorgan Chase & Co. set a $200.00 price target on Apple in a report on Monday, September 12th. Rosenblatt Securities lowered their price objective on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Bank of America lowered their price objective on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Wells Fargo & Company lowered their price objective on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Finally, Credit Suisse Group set a $201.00 price objective on Apple in a research report on Thursday, September 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.

Apple Price Performance

Shares of NASDAQ AAPL opened at $156.90 on Wednesday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The business has a 50-day moving average of $159.84 and a 200-day moving average of $155.88. 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 company has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.95 and a beta of 1.23.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.

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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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