Apple Inc. $AAPL Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,635 shares of the iPhone maker’s stock after selling 335 shares during the quarter. Apple makes up 1.2% of Gallacher Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Gallacher Capital Management LLC’s holdings in Apple were worth $2,592,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Apple by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after buying an additional 5,005,297 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Apple by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock valued at $84,999,145,000 after buying an additional 6,307,413 shares during the last quarter. Norges Bank acquired a new position in shares of Apple in the fourth quarter valued at approximately $46,868,648,000. Northern Trust Corp raised its position in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after buying an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after buying an additional 13,137,968 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Activity at Apple

In other 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 transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $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 SEC, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL opened at $245.50 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company has a 50 day moving average of $224.35 and a two-hundred day moving average of $212.42. The company has a market cap of $3.64 trillion, a P/E ratio of 37.25, a P/E/G ratio of 2.47 and a beta of 1.11.

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

Apple Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AAPL. The Goldman Sachs Group reissued a “buy” rating and issued a $266.00 price objective on shares of Apple in a research report on Tuesday, August 26th. Citigroup restated a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price for the company. in a report on Thursday, September 11th. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a report on Thursday, September 4th. Finally, Tigress Financial boosted their target price on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $242.74.

Apple 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.