Apple Inc. (NASDAQ:AAPL) Position Cut by Alpha Family Trust

Alpha Family Trust reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,700 shares of the iPhone maker’s stock after selling 4,010 shares during the quarter. Apple comprises 7.0% of Alpha Family Trust’s investment portfolio, making the stock its 4th biggest holding. Alpha Family Trust’s holdings in Apple were worth $11,942,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Frisch Financial Group Inc. raised its holdings in Apple by 1.8% during the second quarter. Frisch Financial Group Inc. now owns 86,399 shares of the iPhone maker’s stock worth $18,197,000 after purchasing an additional 1,511 shares during the last quarter. Clearstead Trust LLC lifted its stake in shares of Apple by 4.0% during the second quarter. Clearstead Trust LLC now owns 75,559 shares of the iPhone maker’s stock worth $15,914,000 after purchasing an additional 2,899 shares in the last quarter. Tower Wealth Partners Inc. lifted its stake in shares of Apple by 8.9% during the second quarter. Tower Wealth Partners Inc. now owns 11,675 shares of the iPhone maker’s stock worth $2,459,000 after purchasing an additional 954 shares in the last quarter. Hill Island Financial LLC lifted its stake in shares of Apple by 18.8% in the second quarter. Hill Island Financial LLC now owns 11,232 shares of the iPhone maker’s stock worth $2,366,000 after acquiring an additional 1,778 shares in the last quarter. Finally, EPIQ Capital Group LLC lifted its stake in shares of Apple by 93.4% in the second quarter. EPIQ Capital Group LLC now owns 17,749 shares of the iPhone maker’s stock worth $3,738,000 after acquiring an additional 8,573 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ:AAPL opened at $222.01 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market cap of $3.38 trillion, a price-to-earnings ratio of 36.51, a PEG ratio of 2.41 and a beta of 1.24. The stock has a fifty day moving average price of $227.07 and a 200-day moving average price of $213.03. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 145.09% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is 16.45%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AAPL shares. TD Cowen upped their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Melius Research reiterated a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Piper Sandler reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their price target on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 417,924 shares of company stock valued at $94,142,399 over the last 90 days. Company insiders own 0.06% of the company’s stock.

About Apple

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.