Matrix Private Capital Group LLC Sells 3,517 Shares of Apple Inc. (NASDAQ:AAPL)

Matrix Private Capital Group LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 13.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,263 shares of the iPhone maker’s stock after selling 3,517 shares during the quarter. Apple accounts for approximately 2.5% of Matrix Private Capital Group LLC’s investment portfolio, making the stock its 10th biggest holding. Matrix Private Capital Group LLC’s holdings in Apple were worth $3,671,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Atlantic Private Wealth LLC purchased a new stake in Apple in the first quarter valued at $30,000. St. James Investment Advisors LLC boosted its holdings in Apple by 98.3% in the fourth quarter. St. James Investment Advisors LLC now owns 236 shares of the iPhone maker’s stock valued at $31,000 after purchasing an additional 117 shares during the last quarter. Cheyne Capital Management UK LLP boosted its holdings in Apple by 200.0% in the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock valued at $212,000 after purchasing an additional 550 shares during the last quarter. HBC Financial Services PLLC boosted its holdings in Apple by 21.7% in the first 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. Finally, PayPay Securities Corp purchased a new stake in Apple in the fourth quarter valued at $60,000. 58.51% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.3 %

Shares of NASDAQ AAPL opened at $178.18 on Monday. The firm has a market cap of $2.79 trillion, a price-to-earnings ratio of 29.95, a PEG ratio of 2.59 and a beta of 1.27. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23. The business’s 50 day moving average is $186.26 and its two-hundred day moving average is $174.63.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $81.80 billion for the quarter, compared to analyst estimates of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 earnings per share. Research analysts predict that Apple Inc. will post 6.05 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 14th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.54%. Apple’s dividend payout ratio (DPR) is 16.13%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AAPL. TD Cowen increased their target price on shares of Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Credit Suisse Group raised their target price on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, July 20th. Wells Fargo & Company lifted their price objective on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Oppenheimer lifted their price objective on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, Sanford C. Bernstein lifted their price objective on Apple from $175.00 to $195.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. Ten research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $198.72.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the transaction, the senior vice president now owns 136,445 shares in the company, valued at $24,363,619.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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.