Condor Capital Management Cuts Stock Position in Apple Inc. $AAPL

Condor Capital Management cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 139,245 shares of the iPhone maker’s stock after selling 12,974 shares during the quarter. Apple makes up about 2.9% of Condor Capital Management’s portfolio, making the stock its 6th largest position. Condor Capital Management’s holdings in Apple were worth $30,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AAPL. Burkett Financial Services LLC lifted its stake in shares of Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after buying an additional 93 shares in the last quarter. Avid Wealth Partners LLC lifted its stake in shares of Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after buying an additional 930 shares in the last quarter. OneAscent Wealth Management LLC lifted its stake in shares of Apple by 4.6% in the fourth quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock valued at $2,337,000 after buying an additional 409 shares in the last quarter. Bell & Brown Wealth Advisors LLC lifted its stake in shares of Apple by 0.4% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after buying an additional 240 shares in the last quarter. Finally, TruWealth Advisors LLC lifted its stake in shares of Apple by 2.8% in the first quarter. TruWealth Advisors LLC now owns 189,282 shares of the iPhone maker’s stock valued at $42,045,000 after buying an additional 5,120 shares in the last quarter. 67.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on AAPL. Monness Crespi & Hardt raised their price objective on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. UBS Group raised their price objective on shares of Apple from $210.00 to $220.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Loop Capital dropped their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. DA Davidson reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Friday, August 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $270.00 target price on shares of Apple in a report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $239.05.

Apple Stock Performance

NASDAQ AAPL opened at $239.69 on Monday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a 50-day simple moving average of $219.28 and a 200 day simple moving average of $212.40. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.56 trillion, a PE ratio of 36.37, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 34,821 shares of Apple stock in a transaction dated Friday, August 8th. The shares were 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 in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by insiders.

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.