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

Martin Investment Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,761 shares of the iPhone maker’s stock after selling 8,145 shares during the quarter. Apple makes up approximately 6.8% of Martin Investment Management LLC’s portfolio, making the stock its biggest position. Martin Investment Management LLC’s holdings in Apple were worth $24,200,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. West Bancorporation Inc. grew its position in shares of Apple by 3.3% during the second quarter. West Bancorporation Inc. now owns 16,712 shares of the iPhone maker’s stock worth $3,242,000 after buying an additional 540 shares in the last quarter. Ellenbecker Investment Group grew its position in shares of Apple by 0.8% during the second quarter. Ellenbecker Investment Group now owns 38,289 shares of the iPhone maker’s stock worth $7,427,000 after buying an additional 293 shares in the last quarter. Blue Fin Capital Inc. grew its position in shares of Apple by 0.4% during the second quarter. Blue Fin Capital Inc. now owns 207,497 shares of the iPhone maker’s stock worth $40,248,000 after buying an additional 739 shares in the last quarter. Waypoint Wealth Partners Inc. grew its position in shares of Apple by 20.3% during the second quarter. Waypoint Wealth Partners Inc. now owns 7,113 shares of the iPhone maker’s stock worth $1,380,000 after buying an additional 1,200 shares in the last quarter. Finally, Dakota Wealth Management grew its position in shares of Apple by 39.1% during the second quarter. Dakota Wealth Management now owns 493,385 shares of the iPhone maker’s stock worth $95,702,000 after buying an additional 138,616 shares in the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 0.0 %

Shares of AAPL stock opened at $189.69 on Friday. The business’s fifty day moving average price is $176.91 and its 200 day moving average price is $180.67. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $198.23. The firm has a market capitalization of $2.95 trillion, a PE ratio of 31.00, a P/E/G ratio of 2.60 and a beta of 1.30. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94.

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 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 quarter in the prior year, the company posted $1.29 earnings per share. Apple’s quarterly revenue was down .7% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 6.56 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s dividend payout ratio (DPR) is 15.69%.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,806 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $184.04, for a total value of $884,496.24. Following the sale, the insider now owns 34,687 shares of the company’s stock, valued at $6,383,795.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, CEO Timothy D. Cook sold 240,569 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the sale, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at $565,809,142.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,806 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $184.04, for a total value of $884,496.24. Following the completion of the sale, the insider now owns 34,687 shares in the company, valued at $6,383,795.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 444,391 shares of company stock valued at $77,370,046. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AAPL shares. Morgan Stanley restated an “overweight” rating and set a $210.00 target price on shares of Apple in a research note on Friday, November 3rd. Canaccord Genuity Group boosted their target price on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Canaccord Genuity Group boosted their target price on Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. UBS Group restated a “neutral” rating and set a $190.00 target price on shares of Apple in a research note on Wednesday, September 27th. Finally, Piper Sandler Companies boosted their target price on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $198.25.

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.