Islay Capital Management LLC Decreases Stock Position in Apple Inc. (NASDAQ:AAPL)

Islay Capital Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,311 shares of the iPhone maker’s stock after selling 1,017 shares during the period. Apple comprises approximately 2.7% of Islay Capital Management LLC’s holdings, making the stock its 9th largest holding. Islay Capital Management LLC’s holdings in Apple were worth $2,254,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AAPL. Bluestem Financial Advisors LLC grew its position in Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 229,929 shares during the last quarter. HBC Financial Services PLLC grew its position in Apple by 21.7% during the 1st 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. Ramsey Quantitative Systems bought a new stake in Apple during the 2nd quarter worth approximately $55,000. Morgan Dempsey Capital Management LLC bought a new stake in Apple during the 3rd quarter worth approximately $55,000. Finally, Newfound Research LLC bought a new stake in Apple during the 3rd quarter worth approximately $67,000. 57.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on AAPL. Evercore ISI increased their price objective on Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, September 20th. Sanford C. Bernstein decreased their price objective on Apple from $170.00 to $125.00 in a research report on Monday, January 9th. Bank Of America (Bofa) lowered Apple from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $189.00 to $160.00 in a research report on Friday, September 30th. Rosenblatt Securities decreased their price objective on Apple from $189.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, January 13th. Finally, Robert W. Baird decreased their price objective on Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $171.22.

Apple Stock Performance

AAPL opened at $135.94 on Wednesday. The business’s 50-day moving average price is $139.18 and its two-hundred day moving average price is $148.28. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $179.61. The company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 1.74 and a beta of 1.24. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The firm had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter last year, the business posted $1.24 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts expect that Apple Inc. will post 6.19 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio is 15.06%.

Insider Buying and Selling at Apple

In other news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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