Apple Inc. (NASDAQ:AAPL) Stock Position Cut by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 2.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,542,666 shares of the iPhone maker’s stock after selling 60,383 shares during the period. Apple comprises 1.3% of Federated Hermes Inc.’s investment portfolio, making the stock its 7th biggest position. Federated Hermes Inc.’s holdings in Apple were worth $535,536,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Verus Financial Partners Inc. raised its stake in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after acquiring an additional 48 shares during the period. Brown Financial Advisory increased its holdings in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after purchasing an additional 50 shares during the last quarter. Core Wealth Management Inc. raised its position in Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC lifted its stake in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its position in shares of Apple by 1.1% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In related news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 517,924 shares of company stock valued at $114,786,399. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 1.8 %

Shares of NASDAQ:AAPL opened at $225.91 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The stock has a market cap of $3.43 trillion, a P/E ratio of 34.39, a P/E/G ratio of 2.40 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The firm has a fifty day moving average price of $227.26 and a 200 day moving average price of $211.69.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $1.26 earnings per share. Sell-side analysts predict that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.22%.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research reports. Oppenheimer reiterated a “buy” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Tigress Financial lifted their target price on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $235.91.

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.