Sigma Investment Counselors Inc. Has $26.56 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Sigma Investment Counselors Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,084 shares of the iPhone maker’s stock after selling 2,562 shares during the quarter. Apple comprises 1.4% of Sigma Investment Counselors Inc.’s holdings, making the stock its 11th largest holding. Sigma Investment Counselors Inc.’s holdings in Apple were worth $26,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the company. Yeomans Consulting Group Inc. acquired a new position in shares of Apple during the 4th quarter valued at $1,713,000. Raleigh Capital Management Inc. boosted its stake in Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA bought a new stake in Apple during the fourth quarter worth $38,406,000. Barden Capital Management Inc. raised its position in Apple by 132.8% in the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after buying an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC bought a new position in Apple during the 4th quarter valued at $4,782,000. 60.41% of the stock is owned by institutional investors.

Insider Activity at Apple

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

Analysts Set New Price Targets

Several brokerages have recently commented on AAPL. Bank of America reiterated a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, September 5th. Sanford C. Bernstein increased their price objective 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. Tigress Financial boosted their target price on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Raymond James increased their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Evercore ISI reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.76.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $233.00 on Tuesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.57 trillion, a P/E ratio of 36.24, a P/E/G ratio of 2.66 and a beta of 1.24. The company has a 50 day moving average of $222.37 and a 200 day moving average of $202.80.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the previous year, the business earned $1.26 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

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.