DLK Investment Management LLC Sells 1,456 Shares of Apple Inc. $AAPL

DLK Investment Management LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,006 shares of the iPhone maker’s stock after selling 1,456 shares during the quarter. Apple makes up about 5.3% of DLK Investment Management LLC’s investment portfolio, making the stock its 2nd largest holding. DLK Investment Management LLC’s holdings in Apple were worth $13,951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Burkett Financial Services LLC boosted its stake in Apple by 0.6% in the first quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after acquiring an additional 93 shares during the period. Avid Wealth Partners LLC raised its position in shares of Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock worth $935,000 after purchasing an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC lifted its holdings in shares of 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 lifted its holdings in shares of Apple by 4.6% in 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 last quarter. Finally, Andina Capital Management LLC boosted its position in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after purchasing an additional 4,591 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 0.8%

Apple stock opened at $252.31 on Thursday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.74 trillion, a PE ratio of 38.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.11. The firm has a 50 day simple moving average of $227.04 and a 200-day simple moving average of $212.78.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $1.40 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Buying and Selling

In other Apple 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 completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AAPL shares. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a research report on Thursday, September 11th. Sanford C. Bernstein assumed coverage on shares of Apple in a research report on Monday, September 15th. They set an “outperform” rating and a $290.00 price target for the company. Evercore ISI increased their price objective on shares of Apple from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, September 10th. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, Morgan Stanley set a $240.00 target price on shares of Apple and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $244.66.

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.