Marietta Investment Partners LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 151,711 shares of the iPhone maker’s stock after selling 3,022 shares during the period. Apple comprises approximately 7.0% of Marietta Investment Partners LLC’s investment portfolio, making the stock its biggest holding. Marietta Investment Partners LLC’s holdings in Apple were worth $31,953,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in AAPL. Granite Investment Partners LLC grew its stake in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the period. Bellwether Advisors LLC lifted its holdings in Apple by 387.3% during the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares in the last quarter. Gentry Private Wealth LLC acquired a new stake in shares of Apple in the second quarter valued at about $876,000. Independent Advisor Alliance increased its stake in shares of Apple by 0.9% during the second quarter. Independent Advisor Alliance now owns 920,737 shares of the iPhone maker’s stock worth $193,926,000 after purchasing an additional 8,028 shares in the last quarter. Finally, WT Asset Management Ltd acquired a new position in shares of Apple during the 2nd quarter worth about $80,057,000. 60.41% of the stock is owned by hedge funds and other institutional investors.
Apple Trading Down 0.2 %
AAPL stock opened at $226.96 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.43 trillion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.18 and a beta of 1.24. The business has a fifty day simple moving average of $226.82 and a 200-day simple moving average of $214.36. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s payout ratio is currently 16.45%.
Insider Buying and Selling
In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares in the company, 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 this hyperlink. In other Apple news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 412,746 shares of company stock valued at $93,021,362. Corporate insiders own 0.06% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on AAPL shares. UBS Group restated a “hold” rating and issued a $236.00 target price on shares of Apple in a research report on Wednesday, October 16th. Robert W. Baird raised their price objective on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a report on Friday, October 25th. TD Cowen raised their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and upped their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.
Read Our Latest Report on AAPL
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.
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