AMI Investment Management Inc. Decreases Position in Apple Inc. (NASDAQ:AAPL)

AMI Investment Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,486 shares of the iPhone maker’s stock after selling 124 shares during the quarter. AMI Investment Management Inc.’s holdings in Apple were worth $2,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AAPL. Christopher J. Hasenberg Inc acquired a new position in shares of Apple in the first quarter valued at about $35,000. Fidelis Capital Partners LLC lifted its holdings in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple in the fourth quarter valued at approximately $39,000. University of Texas Texas AM Investment Managment Co. increased its holdings in Apple by 657.1% in the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new position in Apple during the 4th quarter worth approximately $85,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Trading Up 2.3 %

Shares of AAPL stock opened at $233.00 on Tuesday. The firm’s 50 day moving average price is $222.37 and its two-hundred day moving average price is $202.80. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. 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 has a market cap of $3.57 trillion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24.

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

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 over the last ninety days. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $230.00 in a research report on Tuesday, June 11th. Rosenblatt Securities reissued a “buy” rating and issued a $261.00 price objective on shares of Apple in a report on Tuesday, September 10th. UBS Group upped their target price on Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Finally, Citigroup restated a “buy” rating and issued a $255.00 price objective on shares of Apple in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.76.

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.