Fox Hill Wealth Management Sells 5,580 Shares of Apple Inc. $AAPL

Fox Hill Wealth Management reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,661 shares of the iPhone maker’s stock after selling 5,580 shares during the period. Apple comprises about 4.6% of Fox Hill Wealth Management’s holdings, making the stock its 3rd largest holding. Fox Hill Wealth Management’s holdings in Apple were worth $8,958,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Burkett Financial Services LLC raised its holdings in Apple by 0.6% during 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 raised its stake in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares during the last quarter. Bell & Brown Wealth Advisors LLC grew its position in Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after purchasing an additional 240 shares during the last quarter. OneAscent Wealth Management LLC increased its holdings in shares of Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker’s stock worth $2,337,000 after purchasing an additional 409 shares during the period. Finally, Andina Capital Management LLC raised its position in shares of Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after buying an additional 4,591 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 0.5%

NASDAQ AAPL opened at $237.88 on Friday. The stock has a market capitalization of $3.53 trillion, a P/E ratio of 36.10, a price-to-earnings-growth ratio of 2.48 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 company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a fifty day moving average of $223.66 and a 200-day moving average of $212.35.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 earnings per share. On average, equities research analysts forecast 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. Shareholders of record on Monday, August 11th were given a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s payout ratio is presently 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction that occurred on 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 sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Melius Research set a $290.00 target price on Apple and gave the stock a “buy” rating in a research report on Wednesday, September 10th. BMO Capital Markets reissued a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Bank of America boosted their price objective on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. JPMorgan Chase & Co. raised their target price on Apple from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Finally, Jefferies Financial Group lifted their price target on shares of Apple from $190.67 to $205.82 and gave the stock a “hold” rating in a research note on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.93.

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.