Pegasus Asset Management Inc. Sells 1,467 Shares of Apple Inc. (NASDAQ:AAPL)

Pegasus Asset Management Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,987 shares of the iPhone maker’s stock after selling 1,467 shares during the period. Apple makes up approximately 8.1% of Pegasus Asset Management Inc.’s portfolio, making the stock its 2nd biggest holding. Pegasus Asset Management Inc.’s holdings in Apple were worth $18,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Center For Asset Management LLC boosted its position in Apple by 53.3% during the second quarter. Center For Asset Management LLC now owns 21,898 shares of the iPhone maker’s stock worth $4,247,000 after purchasing an additional 7,616 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co boosted its position in Apple by 8.3% during the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 785,000 shares of the iPhone maker’s stock worth $129,447,000 after purchasing an additional 60,000 shares in the last quarter. Arista Wealth Management LLC boosted its position in Apple by 1.0% during the first quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock worth $4,399,000 after purchasing an additional 261 shares in the last quarter. Conrad Siegel Investment Advisors Inc. boosted its position in Apple by 22.2% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 7,897 shares of the iPhone maker’s stock worth $1,532,000 after purchasing an additional 1,436 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Apple by 2.3% during the first quarter. Thrivent Financial for Lutherans now owns 3,919,534 shares of the iPhone maker’s stock worth $646,332,000 after purchasing an additional 89,615 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Apple Price Performance

AAPL stock opened at $191.45 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.94 and a current ratio of 0.99. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The firm has a market cap of $2.98 trillion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 2.60 and a beta of 1.30. The stock has a 50-day simple moving average of $177.15 and a 200-day simple moving average of $181.03.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, beating 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 business had revenue of $89.50 billion during the quarter, compared to analyst estimates of $89.34 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, November 10th. This represents a $0.96 dividend on an annualized basis and a yield of 0.50%. Apple’s dividend payout ratio (DPR) is presently 15.69%.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,806 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $184.04, for a total transaction of $884,496.24. Following the completion of the sale, the insider now owns 34,687 shares in the company, valued at approximately $6,383,795.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Apple news, insider Chris Kondo sold 4,806 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $184.04, for a total transaction of $884,496.24. Following the completion of the sale, the insider now owns 34,687 shares in the company, valued at approximately $6,383,795.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of the firm’s 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 sale, 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 sold a total of 567,839 shares of company stock worth $100,675,794 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research analyst reports. 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 report on Friday, August 4th. Sanford C. Bernstein restated a “market perform” rating and issued a $195.00 price objective on shares of Apple in a research report on Monday, October 9th. Canaccord Genuity Group upped their price objective on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Evercore ISI restated an “outperform” rating and issued a $210.00 price objective on shares of Apple in a research report on Thursday, September 28th. Finally, Tigress Financial upped their price objective on Apple from $225.00 to $240.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 16th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $198.25.

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.