Hourglass Capital LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,639 shares of the iPhone maker’s stock after selling 865 shares during the quarter. Apple makes up approximately 2.9% of Hourglass Capital LLC’s investment portfolio, making the stock its 3rd largest position. Hourglass Capital LLC’s holdings in Apple were worth $8,271,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Atlantic Private Wealth LLC purchased a new stake in shares of Apple in the first quarter valued at approximately $30,000. Cheyne Capital Management UK LLP boosted its stake in Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after buying an additional 550 shares during the last quarter. HBC Financial Services PLLC grew its holdings in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares in the last quarter. Clear Perspectives Financial Planning LLC increased its stake in shares of Apple by 27.3% in the 1st quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after acquiring an additional 211 shares during the last quarter. Finally, NNS Holding purchased a new position in shares of Apple during the 2nd quarter worth $193,000. 58.51% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently issued reports on AAPL shares. Canaccord Genuity Group raised their price objective on shares of Apple from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Tigress Financial raised their price target on shares of Apple from $225.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Thursday. Rosenblatt Securities decreased their price objective on Apple from $198.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Wells Fargo & Company raised their target price on Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 24th. Finally, Canaccord Genuity Group upped their price target on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $198.25.
Insider Buying and Selling at Apple
In other news, CEO Timothy D. Cook sold 240,569 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Timothy D. Cook sold 240,569 shares of Apple 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 sale, the chief executive officer now directly owns 3,280,053 shares in the company, valued at approximately $565,809,142.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. Insiders have sold 444,391 shares of company stock worth $77,370,046 over the last three months. Insiders own 0.06% of the company’s stock.
Apple Trading Down 0.0 %
Shares of NASDAQ:AAPL opened at $189.69 on Friday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The company’s 50 day moving average is $176.91 and its two-hundred day moving average is $180.76. The company has a market cap 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 current ratio of 0.99, a quick ratio of 0.94 and a debt-to-equity ratio of 1.53.
Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. The firm had revenue of $89.50 billion for the quarter, compared to analyst estimates of $89.34 billion. Apple had a return on equity of 160.78% and a net margin of 25.31%. Apple’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.29 earnings per share. Equities analysts predict that Apple Inc. will post 6.56 earnings per share for the current fiscal year.
Apple Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, November 10th. Apple’s dividend payout ratio (DPR) is 15.69%.
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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