Apple Inc. (NASDAQ:AAPL) Shares Sold by Savoie Capital LLC

Savoie Capital LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 28.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,751 shares of the iPhone maker’s stock after selling 16,899 shares during the period. Apple makes up 1.2% of Savoie Capital LLC’s investment portfolio, making the stock its 20th largest position. Savoie Capital LLC’s holdings in Apple were worth $9,004,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AAPL. Nvest Financial LLC boosted its holdings in Apple by 3.9% during the 1st quarter. Nvest Financial LLC now owns 34,386 shares of the iPhone maker’s stock valued at $5,896,000 after acquiring an additional 1,299 shares during the period. Myecfo LLC lifted its position in shares of Apple by 2.5% during the first quarter. Myecfo LLC now owns 15,356 shares of the iPhone maker’s stock worth $2,633,000 after purchasing an additional 376 shares in the last quarter. Naviter Wealth LLC boosted its stake in shares of Apple by 25.4% in the first quarter. Naviter Wealth LLC now owns 91,088 shares of the iPhone maker’s stock valued at $15,620,000 after purchasing an additional 18,441 shares during the period. Saxon Interests Inc. boosted its position in Apple by 8.9% in the 1st quarter. Saxon Interests Inc. now owns 41,398 shares of the iPhone maker’s stock valued at $7,099,000 after buying an additional 3,383 shares during the period. Finally, MBM Wealth Consultants LLC grew its position in shares of Apple by 4.5% during the first quarter. MBM Wealth Consultants LLC now owns 13,278 shares of the iPhone maker’s stock worth $2,277,000 after buying an additional 575 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $3,469,275. 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 can be accessed through the SEC website. In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value 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 $3,469,275. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 412,746 shares of company stock worth $93,021,362. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Friday, November 1st. Citigroup upped their price objective on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Rosenblatt Securities raised their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Finally, TD Cowen upped 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. Two equities 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 given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Stock Performance

NASDAQ:AAPL opened at $224.23 on Tuesday. The firm has a market cap of $3.39 trillion, a price-to-earnings ratio of 36.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a 50-day moving average of $226.82 and a 200-day moving average of $214.68.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results 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. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. Analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

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

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.