Jacobsen Capital Management Sells 4,966 Shares of Apple Inc. (NASDAQ:AAPL)

Jacobsen Capital Management reduced its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 17.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 23,316 shares of the iPhone maker’s stock after selling 4,966 shares during the period. Apple comprises approximately 1.7% of Jacobsen Capital Management’s portfolio, making the stock its 12th biggest position. Jacobsen Capital Management’s holdings in Apple were worth $3,188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Cooper Financial Group grew its holdings in shares of Apple by 2.2% in the first quarter. Cooper Financial Group now owns 114,581 shares of the iPhone maker’s stock valued at $20,007,000 after acquiring an additional 2,516 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after acquiring an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. grew its holdings in shares of Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after acquiring an additional 1,040 shares in the last quarter. Tennessee Valley Asset Management Partners grew its holdings in shares of Apple by 2.0% in the first quarter. Tennessee Valley Asset Management Partners now owns 24,330 shares of the iPhone maker’s stock valued at $4,248,000 after acquiring an additional 470 shares in the last quarter. Finally, Concorde Asset Management LLC grew its holdings in shares of Apple by 15.1% in the first quarter. Concorde Asset Management LLC now owns 11,375 shares of the iPhone maker’s stock valued at $1,985,000 after acquiring an additional 1,488 shares in the last quarter. 57.72% of the stock is owned by institutional investors.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 8,053 shares of the stock in a transaction on Monday, October 17th. The shares were sold at an average price of $142.45, for a total value of $1,147,149.85. Following the completion of the transaction, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $19,414,510.50. The disclosure for this sale can be found here. Insiders have sold a total of 360,651 shares of company stock valued at $53,703,645 over the last 90 days. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AAPL shares. Morgan Stanley reduced their target price on Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday, November 8th. Credit Suisse Group set a $184.00 target price on Apple in a report on Thursday. Wedbush dropped their price objective on Apple from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on Apple from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Finally, Itaú Unibanco started coverage on Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.

Apple Trading Up 0.4 %

Shares of AAPL stock opened at $151.29 on Friday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a market capitalization of $2.41 trillion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25. The business’s fifty day moving average is $147.08 and its 200 day moving average is $149.95.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The company had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 6.26 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were paid a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio is presently 15.06%.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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