Sterling Manor Financial LLC Sells 200 Shares of Apple Inc. $AAPL

Sterling Manor Financial LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,545 shares of the iPhone maker’s stock after selling 200 shares during the period. Apple comprises 1.7% of Sterling Manor Financial LLC’s investment portfolio, making the stock its 15th largest holding. Sterling Manor Financial LLC’s holdings in Apple were worth $2,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First National Bank of Hutchinson boosted its holdings in Apple by 24.6% in 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 acquiring an additional 6,982 shares during the last quarter. Eagle Capital Management LLC boosted its holdings in Apple by 0.5% in the fourth 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 during the last quarter. Brighton Jones LLC boosted its holdings in Apple by 14.8% in the fourth 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 during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after acquiring 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 fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after acquiring an additional 1,155 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 stock was 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 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $245.50 on Monday. The stock has a market cap of $3.64 trillion, a P/E ratio of 37.25, a PEG ratio of 2.55 and a beta of 1.11. 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 twelve month low of $169.21 and a twelve month high of $260.10. The business’s 50-day moving average price is $224.35 and its two-hundred day moving average price is $212.10.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors 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 currently 15.78%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. JPMorgan Chase & Co. boosted their price target on Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday. Monness Crespi & Hardt boosted their price target on Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Tigress Financial boosted their price target on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Finally, Bank of America boosted their price target on Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. 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 stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $242.74.

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.