Apple Inc. $AAPL Holdings Cut by Cornerstone Select Advisors LLC

Cornerstone Select Advisors LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,185 shares of the iPhone maker’s stock after selling 47 shares during the period. Apple comprises approximately 3.6% of Cornerstone Select Advisors LLC’s holdings, making the stock its 3rd largest holding. Cornerstone Select Advisors LLC’s holdings in Apple were worth $3,817,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. First National Bank of Hutchinson grew its holdings in shares of Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC grew its holdings in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC grew its holdings in shares of Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its position in shares of Apple by 2.4% in the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AAPL shares. Raymond James Financial reissued an “outperform” rating and issued a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Melius Research set a $290.00 price target on Apple and gave the stock a “buy” rating in a research report on Wednesday. Loop Capital dropped their price target on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research report on Thursday, August 21st. UBS Group reissued a “neutral” rating on shares of Apple in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Apple from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $242.16.

Apple Stock Performance

Apple stock opened at $226.79 on Thursday. The company has a market capitalization of $3.37 trillion, a PE ratio of 34.41, a P/E/G ratio of 2.45 and a beta of 1.11. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. 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 50 day moving average price of $220.75 and a 200-day moving average price of $212.60.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is currently 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.