Apple Inc. (NASDAQ:AAPL) Shares Sold by Bray Capital Advisors

Bray Capital Advisors reduced its position in Apple Inc. (NASDAQ:AAPL) by 3.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 64,760 shares of the iPhone maker’s stock after selling 2,387 shares during the quarter. Apple comprises about 3.8% of Bray Capital Advisors’ holdings, making the stock its 3rd largest position. Bray Capital Advisors’ holdings in Apple were worth $12,562,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Clarity Wealth Advisors LLC lifted its holdings in shares of Apple by 1.9% during the second quarter. Clarity Wealth Advisors LLC now owns 125,880 shares of the iPhone maker’s stock worth $24,417,000 after purchasing an additional 2,316 shares during the period. Morling Financial Advisors LLC lifted its holdings in shares of Apple by 10.9% during the second quarter. Morling Financial Advisors LLC now owns 44,744 shares of the iPhone maker’s stock worth $8,679,000 after purchasing an additional 4,400 shares during the period. Key Financial Inc lifted its holdings in shares of Apple by 0.6% during the second quarter. Key Financial Inc now owns 106,597 shares of the iPhone maker’s stock worth $20,677,000 after purchasing an additional 680 shares during the period. Shilanski & Associates Inc. raised its position in Apple by 0.5% in the second quarter. Shilanski & Associates Inc. now owns 21,878 shares of the iPhone maker’s stock worth $4,244,000 after acquiring an additional 107 shares in the last quarter. Finally, Retirement Income Solutions Inc raised its position in Apple by 7.0% in the second quarter. Retirement Income Solutions Inc now owns 19,006 shares of the iPhone maker’s stock worth $3,687,000 after acquiring an additional 1,239 shares in the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on AAPL. The Goldman Sachs Group cut their price objective on Apple from $222.00 to $216.00 and set a “buy” rating for the company in a research report on Wednesday, September 13th. Raymond James increased their price objective on Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Rosenblatt Securities cut their price objective on Apple from $198.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. Bank of America reiterated a “neutral” rating and issued a $173.00 price objective on shares of Apple in a research report on Tuesday, October 24th. Finally, Citigroup reiterated a “buy” rating and issued a $240.00 price objective on shares of Apple in a research report on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $197.82.

Apple Stock Up 2.2 %

Shares of NASDAQ:AAPL opened at $186.40 on Monday. The stock’s 50-day moving average price is $176.47 and its two-hundred day moving average price is $180.18. 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 Inc. has a 12-month low of $124.17 and a 12-month high of $198.23. The firm has a market cap of $2.90 trillion, a price-to-earnings ratio of 30.46, a PEG ratio of 2.58 and a beta of 1.30.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Apple had a return on equity of 160.78% and a net margin of 25.31%. The firm had revenue of $89.50 billion for the quarter, compared to analyst estimates of $89.34 billion. During the same period last year, the company earned $1.29 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 6.55 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed 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 is Friday, November 10th. Apple’s dividend payout ratio is currently 15.69%.

Insider Activity

In other news, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value 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 approximately $23,483,548.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Luca Maestri sold 31,685 shares of the business’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 transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 65,536 shares of the business’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 value 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. Insiders have sold 439,585 shares of company stock valued at $76,485,550 in the last three months. Corporate insiders own 0.06% of the company’s stock.

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.