Hyperion Partners LLC Sells 422 Shares of Apple Inc. (NASDAQ:AAPL)

Hyperion Partners LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,128 shares of the iPhone maker’s stock after selling 422 shares during the period. Apple comprises approximately 3.8% of Hyperion Partners LLC’s holdings, making the stock its 10th biggest position. Hyperion Partners LLC’s holdings in Apple were worth $5,293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Norges Bank acquired a new stake in Apple in the fourth quarter worth $33,912,466,000. Vanguard Group Inc. increased its holdings in shares of Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after acquiring an additional 18,067,216 shares during the period. Swedbank AB acquired a new stake in shares of Apple in the 1st quarter worth about $3,026,492,000. Global Assets Advisory LLC increased its holdings in shares of Apple by 23,076.4% in the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock worth $1,584,512,000 after acquiring an additional 9,200,345 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AAPL. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a report on Monday, August 5th. Robert W. Baird boosted their price target on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and lifted their price objective for the company from $170.00 to $300.00 in a research note on Monday, July 15th. Wedbush increased their target price on shares of Apple from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein raised their target price on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $237.30.

Insider Activity at Apple

In related news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,884 shares of company stock worth $23,723,887. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL opened at $222.77 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The stock’s 50 day moving average price is $222.57 and its two-hundred day moving average price is $196.53. The firm has a market capitalization of $3.42 trillion, a P/E ratio of 34.65, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter last year, the company posted $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

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.