Leo Brokerage LLC Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Leo Brokerage LLC lessened its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 20.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 106,050 shares of the iPhone maker’s stock after selling 27,010 shares during the quarter. Apple makes up 3.9% of Leo Brokerage LLC’s holdings, making the stock its 4th largest holding. Leo Brokerage LLC’s holdings in Apple were worth $14,499,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AAPL. Vanguard Group Inc. grew its position in shares of Apple by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock worth $221,753,959,000 after buying an additional 8,734,393 shares in the last quarter. State Street Corp grew its position in shares of Apple by 1.8% during the 4th quarter. State Street Corp now owns 633,115,246 shares of the iPhone maker’s stock worth $112,422,274,000 after buying an additional 10,951,705 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Apple by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 264,351,901 shares of the iPhone maker’s stock worth $46,812,958,000 after buying an additional 4,456,954 shares in the last quarter. Norges Bank bought a new position in shares of Apple during the 4th quarter worth $25,228,507,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after purchasing an additional 1,155,915 shares during the last quarter. Institutional investors own 57.72% of the company’s stock.

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 value of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of 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. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $152.74 on Friday. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a market cap of $2.45 trillion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.03 and a beta of 1.23. 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 business’s 50 day moving average price is $160.31 and its 200 day moving average price is $155.83.

Apple (NASDAQ:AAPLGet Rating) last announced 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. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same quarter last year, the business posted $1.30 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 6.11 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a yield of 0.60%. Apple’s dividend payout ratio is currently 15.18%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AAPL shares. Sanford C. Bernstein set a $170.00 price objective on Apple in a research note on Monday, September 12th. Wedbush raised their price objective on Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. JPMorgan Chase & Co. set a $200.00 target price on Apple in a report on Monday, September 12th. Barclays set a $169.00 target price on Apple in a report on Wednesday, September 14th. Finally, Morgan Stanley dropped their target price on Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, July 20th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.

About Apple

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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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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