Apple Inc. $AAPL Holdings Cut by Northstar Financial Companies Inc.

Northstar Financial Companies Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 40.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,640 shares of the iPhone maker’s stock after selling 16,161 shares during the period. Apple makes up approximately 5.7% of Northstar Financial Companies Inc.’s holdings, making the stock its 3rd biggest holding. Northstar Financial Companies Inc.’s holdings in Apple were worth $5,251,000 at the end of the most recent quarter.

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

Apple Trading Up 1.4%

NASDAQ AAPL opened at $230.03 on Friday. The company’s fifty day simple moving average is $221.08 and its 200-day simple moving average is $212.48. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.41 trillion, a P/E ratio of 34.91, a PEG ratio of 2.37 and a beta of 1.11.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 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 for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the previous year, the company posted $1.40 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Activity

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction on 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 completion of the sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. The trade was 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 this link. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Monness Crespi & Hardt upped their target price on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. HSBC set a $220.00 price target on shares of Apple and gave the stock a “hold” rating in a research note on Monday. Melius Research set a $290.00 target price on shares of Apple and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group restated a “buy” rating and issued a $266.00 target price on shares of Apple in a research note on Tuesday, August 26th. Finally, DA Davidson restated a “neutral” rating and set a $250.00 target price on shares of Apple in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $240.80.

About Apple

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.