Riversedge Advisors LLC Sells 1,125 Shares of Apple Inc. $AAPL

Riversedge Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87,449 shares of the iPhone maker’s stock after selling 1,125 shares during the period. Apple makes up approximately 3.5% of Riversedge Advisors LLC’s holdings, making the stock its 10th biggest position. Riversedge Advisors LLC’s holdings in Apple were worth $17,942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Bulwark Capital Corp bought a new position in shares of Apple in the second quarter valued at approximately $501,000. Reyes Financial Architecture Inc. lifted its holdings in shares of Apple by 17.7% in the second quarter. Reyes Financial Architecture Inc. now owns 9,861 shares of the iPhone maker’s stock valued at $2,023,000 after purchasing an additional 1,482 shares in the last quarter. High Probability Advisors LLC grew its holdings in shares of Apple by 8.3% during the second quarter. High Probability Advisors LLC now owns 4,504 shares of the iPhone maker’s stock valued at $924,000 after buying an additional 346 shares in the last quarter. Czech National Bank lifted its position in Apple by 5.8% in the 2nd quarter. Czech National Bank now owns 3,650,810 shares of the iPhone maker’s stock worth $749,037,000 after buying an additional 200,576 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Apple by 17.1% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 662,135 shares of the iPhone maker’s stock worth $135,771,000 after buying an additional 96,800 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on AAPL shares. Monness Crespi & Hardt increased their price target 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. Wedbush restated an “outperform” rating and issued a $270.00 target price on shares of Apple in a research note on Tuesday, September 9th. DA Davidson reiterated a “neutral” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 11th. Rosenblatt Securities increased their price target on Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Finally, Raymond James Financial reissued an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $242.74.

Apple Stock Performance

NASDAQ AAPL opened at $245.50 on Monday. 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 firm’s fifty day moving average price is $224.35 and its two-hundred day moving average price is $212.10. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The firm has a market capitalization of $3.64 trillion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 2.55 and a beta of 1.11.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results 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 firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Insider Activity at Apple

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

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.