Cowa LLC Sells 88 Shares of Apple Inc. (NASDAQ:AAPL)

Cowa LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,068 shares of the iPhone maker’s stock after selling 88 shares during the quarter. Apple comprises 4.5% of Cowa LLC’s portfolio, making the stock its 6th biggest holding. Cowa LLC’s holdings in Apple were worth $6,802,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Leo Brokerage LLC increased its holdings in shares of Apple by 101.2% during the 2nd quarter. Leo Brokerage LLC now owns 251,471 shares of the iPhone maker’s stock worth $48,766,000 after acquiring an additional 126,458 shares during the last quarter. Smart Money Group LLC boosted its stake in Apple by 6.7% in the 2nd quarter. Smart Money Group LLC now owns 3,934 shares of the iPhone maker’s stock valued at $763,000 after purchasing an additional 248 shares during the period. Atlas Wealth Partners LLC bought a new stake in Apple in the 2nd quarter valued at $1,216,000. Wealth Advisors of Iowa LLC boosted its stake in Apple by 1.7% in the 2nd quarter. Wealth Advisors of Iowa LLC now owns 18,881 shares of the iPhone maker’s stock valued at $3,662,000 after purchasing an additional 322 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its stake in Apple by 103.6% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 42,044 shares of the iPhone maker’s stock valued at $8,155,000 after purchasing an additional 21,391 shares during the period. 58.51% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 1.2 %

Shares of AAPL stock opened at $170.29 on Tuesday. The stock has a market cap of $2.66 trillion, a price-to-earnings ratio of 28.62, a PEG ratio of 2.33 and a beta of 1.28. The stock has a 50-day moving average of $177.09 and a 200-day moving average of $179.31. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.07. The company had revenue of $81.80 billion during the quarter, compared to analysts’ expectations of $81.79 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 6.04 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were paid a $0.24 dividend. The ex-dividend date was Friday, August 11th. This represents a $0.96 annualized dividend and a dividend yield of 0.56%. Apple’s payout ratio is 16.13%.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the sale, the chief financial officer now owns 107,661 shares of the company’s stock, valued at $19,237,944.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the sale, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The disclosure for this sale can be found here. Insiders sold 455,004 shares of company stock valued at $79,238,767 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AAPL shares. Sanford C. Bernstein restated a “market perform” rating and issued a $195.00 price target on shares of Apple in a research note on Monday, October 9th. Raymond James boosted their price target on Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. TD Cowen boosted their price target on Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. The Goldman Sachs Group cut their target price on Apple from $222.00 to $216.00 and set a “buy” rating for the company in a research report on Wednesday, September 13th. Finally, UBS Group reiterated a “neutral” rating and set a $190.00 target price on shares of Apple in a research report on Wednesday, September 27th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.80.

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.