Channing Global Advisors LLC cut its position in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,568 shares of the iPhone maker’s stock after selling 157 shares during the quarter. Apple makes up approximately 2.5% of Channing Global Advisors LLC’s investment portfolio, making the stock its 12th largest holding. Channing Global Advisors LLC’s holdings in Apple were worth $2,438,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Atlantic Private Wealth LLC acquired a new stake in Apple in the 1st quarter worth approximately $30,000. Cheyne Capital Management UK LLP increased its holdings in shares of Apple by 200.0% during the 3rd 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 in the last quarter. HBC Financial Services PLLC grew its position in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. Clear Perspectives Financial Planning LLC grew its holdings in Apple by 27.3% in the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock valued at $172,000 after purchasing an additional 211 shares during the period. Finally, NNS Holding purchased a new stake in Apple in the 2nd quarter worth $193,000. 58.51% of the stock is owned by hedge funds and other institutional investors.
Apple Stock Performance
Shares of AAPL stock opened at $182.89 on Thursday. The stock’s 50-day moving average price is $176.64 and its 200 day moving average price is $179.78. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $2.84 trillion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 16.13%.
Insider Transactions at Apple
In other Apple news, CFO Luca Maestri sold 31,685 shares of Apple 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 owns 107,661 shares of the company’s stock, valued at approximately $19,237,944.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 stock was sold at an average price of $178.69, for a total value of $5,661,792.65. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the sale, the senior vice president now owns 136,445 shares in the company, valued at $23,483,548.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 439,585 shares of company stock worth $76,485,550. Company insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
AAPL has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on Apple from $180.00 to $204.00 and gave the company an “outperform” rating in a report on Tuesday, August 1st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $195.00 target price on shares of Apple in a report on Monday, October 9th. Barclays decreased their price target on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Apple in a research report on Tuesday, October 31st. Finally, Wells Fargo & Company raised their target price on Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $197.82.
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.
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