Apple Inc. (NASDAQ:AAPL) Shares Sold by Aspen Investment Management Inc

Aspen Investment Management Inc trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,336 shares of the iPhone maker’s stock after selling 410 shares during the period. Apple accounts for about 2.0% of Aspen Investment Management Inc’s investment portfolio, making the stock its 11th largest position. Aspen Investment Management Inc’s holdings in Apple were worth $3,363,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Luca Maestri sold 32,010 shares of Apple stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $177.89, for a total value of $5,694,258.90. Following the completion of the transaction, the chief financial officer now directly owns 139,346 shares of the company’s stock, valued at approximately $24,788,259.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $172.50, for a total transaction of $41,498,152.50. Following the completion of the transaction, the chief executive officer now directly owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The disclosure for this sale can be found here. Insiders sold a total of 439,585 shares of company stock valued at $76,485,550 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $182.41 on Friday. The company has a fifty day simple moving average of $176.54 and a 200 day simple moving average of $179.80. The firm has a market cap of $2.84 trillion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.51 and a beta of 1.30. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $198.23. The company has a current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.07. The company had revenue of $89.50 billion during the quarter, compared to analyst estimates of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the business earned $1.29 EPS. Equities research analysts expect that Apple Inc. will post 6.54 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Monday, November 13th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.53%. The ex-dividend date is Friday, November 10th. Apple’s dividend payout ratio is currently 15.69%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Apple in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Raymond James raised their target price on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 24th. Bank of America restated a “neutral” rating and set a $173.00 target price on shares of Apple in a research report on Tuesday, October 24th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $195.00 price target on shares of Apple in a research note on Monday, October 9th. Ten 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 company has a consensus rating of “Moderate Buy” and a consensus target price 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.