Fulcrum Capital LLC Lowers Stock Position in Apple Inc. (NASDAQ:AAPL)

Fulcrum Capital LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 10.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 121,482 shares of the iPhone maker’s stock after selling 14,830 shares during the quarter. Apple makes up 6.2% of Fulcrum Capital LLC’s holdings, making the stock its 3rd largest holding. Fulcrum Capital LLC’s holdings in Apple were worth $23,564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. IFM Investors Pty Ltd increased its stake in shares of Apple by 20.0% in the 1st quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock worth $456,728,000 after purchasing an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. increased its stake in shares of Apple by 0.4% in the 1st quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock worth $42,016,000 after purchasing an additional 1,040 shares in the last quarter. Markel Corp increased its stake in shares of Apple by 0.7% in the 1st quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock worth $210,752,000 after purchasing an additional 8,450 shares in the last quarter. Camden Capital LLC increased its stake in shares of Apple by 9.2% in the 1st quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock worth $27,305,000 after purchasing an additional 13,200 shares in the last quarter. Finally, Harbor Island Capital LLC increased its stake in Apple by 0.3% in the 1st quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock worth $23,629,000 after buying an additional 400 shares in the last quarter. 58.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price target on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Citigroup reiterated a “buy” rating and issued a $240.00 price target on shares of Apple in a research note on Friday, August 4th. Credit Suisse Group reiterated an “outperform” rating and issued a $220.00 price target on shares of Apple in a research note on Friday, September 15th. Morgan Stanley reiterated an “overweight” rating and issued a $210.00 price target on shares of Apple in a research note on Friday. Finally, Jefferies Financial Group cut their price target on Apple from $220.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $197.82.

Apple Stock Up 1.5 %

Shares of NASDAQ AAPL opened at $179.23 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.98 and a quick ratio of 0.92. The company has a market cap of $2.80 trillion, a P/E ratio of 29.29, a PEG ratio of 2.42 and a beta of 1.30. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The firm has a 50-day simple moving average of $176.80 and a two-hundred day simple moving average of $179.55.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. The business had revenue of $89.50 billion during the quarter, compared to the consensus estimate of $89.34 billion. Apple had a net margin of 24.68% and a return on equity of 164.92%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 earnings per share. Research analysts anticipate that Apple Inc. will post 6.05 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 15.69%.

Insider Transactions at Apple

In other news, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Luca Maestri sold 31,685 shares of the firm’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the transaction, the chief financial officer now directly owns 107,661 shares of the company’s stock, valued at $19,237,944.09. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the senior vice president now directly owns 136,445 shares in the company, valued at $23,483,548.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 439,585 shares of company stock valued at $76,485,550. 0.06% of the stock is currently owned by company insiders.

Apple 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.