D. Scott Neal Inc. Lowers Position in Apple Inc. (NASDAQ:AAPL)

D. Scott Neal Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,075 shares of the iPhone maker’s stock after selling 148 shares during the period. Apple makes up 0.4% of D. Scott Neal Inc.’s investment portfolio, making the stock its 23rd largest position. D. Scott Neal Inc.’s holdings in Apple were worth $967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Cardinal Capital Management Inc. raised 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 acquiring an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new position in shares of Apple during the 4th quarter valued at about $41,000. CFS Investment Advisory Services LLC increased its position in shares of 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 valued at $47,000 after purchasing an additional 7,416,445 shares during the last quarter. Spence Asset Management bought a new position in shares of Apple during the 2nd quarter valued at about $49,000. Finally, HBC Financial Services PLLC increased its position in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AAPL shares. Sanford C. Bernstein set a $170.00 price objective on Apple in a research report on Monday, September 12th. Oppenheimer reiterated an “outperform” rating and set a $190.00 price objective on shares of Apple in a research report on Wednesday, June 8th. Bank of America reduced their price objective on Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Fundamental Research set a $177.07 price target on Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Finally, Rosenblatt Securities reduced their price target on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Two 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $181.68.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction 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 completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction 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 completion of the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction 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 transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Trading Up 1.6 %

AAPL opened at $156.90 on Wednesday. The stock has a market cap of $2.52 trillion, a PE ratio of 25.89, 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 50 day moving average of $159.84 and a 200-day moving average of $155.88. 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 earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $1.30 EPS. Equities research analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders 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 0.59%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is presently 15.18%.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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