Cutler Investment Counsel LLC Has $5.32 Million Holdings in Apple Inc. $AAPL

Cutler Investment Counsel LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,935 shares of the iPhone maker’s stock after selling 60 shares during the quarter. Cutler Investment Counsel LLC’s holdings in Apple were worth $5,317,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Conquis Financial LLC acquired a new position in shares of Apple during the fourth quarter worth approximately $63,000. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter worth approximately $65,000. Elite Financial Inc. acquired a new position in shares of Apple in the first quarter valued at $58,000. Pillar Financial Advisors LLC acquired a new position in shares of Apple in the fourth quarter valued at $82,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Apple in the fourth quarter valued at $147,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AAPL. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating in a research note on Friday, July 18th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Friday, July 25th. UBS Group upped their target price on Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Morgan Stanley set a $240.00 target price on Apple and gave the company an “overweight” rating in a research note on Wednesday. Finally, Citigroup upped their target price on Apple from $240.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.05.

Apple Stock Up 0.5%

Shares of Apple stock opened at $239.78 on Friday. The firm has a market cap of $3.56 trillion, a PE ratio of 36.39, a P/E/G ratio of 2.49 and a beta of 1.11. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The business’s 50 day simple moving average is $218.50 and its 200 day simple moving average is $212.89. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is 15.78%.

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.