Parkside Advisors LLC Cuts Stock Holdings in Apple Inc. $AAPL

Parkside Advisors LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,729 shares of the iPhone maker’s stock after selling 759 shares during the period. Apple makes up 1.2% of Parkside Advisors LLC’s portfolio, making the stock its 19th largest holding. Parkside Advisors LLC’s holdings in Apple were worth $5,279,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after acquiring an additional 5,005,297 shares during the last quarter. Geode Capital Management LLC increased its stake in Apple by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock worth $84,999,145,000 after acquiring an additional 6,307,413 shares during the last quarter. Norges Bank purchased a new stake in Apple during the fourth quarter valued at approximately $46,868,648,000. Northern Trust Corp lifted its stake in shares of Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Apple by 14.3% in the 4th 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 worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 34,821 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AAPL shares. Morgan Stanley set a $240.00 price target on Apple and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Tigress Financial increased their target price on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. DA Davidson reissued a “neutral” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 11th. Sanford C. Bernstein initiated coverage on shares of Apple in a research note on Monday, September 15th. They issued an “outperform” rating and a $290.00 target price on the stock. Finally, Monness Crespi & Hardt increased their target price on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.03.

Apple Stock Up 4.3%

Shares of Apple stock opened at $256.08 on Tuesday. The firm’s 50 day moving average price is $225.30 and its 200-day moving average price is $212.22. 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 market cap of $3.80 trillion, a P/E ratio of 38.86, a PEG ratio of 2.55 and a beta of 1.11.

Apple (NASDAQ:AAPL) last released 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 business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

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.