Taylor Hoffman Capital Management LLC Sells 149 Shares of Apple Inc. $AAPL

Taylor Hoffman Capital Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,814 shares of the iPhone maker’s stock after selling 149 shares during the period. Apple makes up 6.6% of Taylor Hoffman Capital Management LLC’s holdings, making the stock its largest position. Taylor Hoffman Capital Management LLC’s holdings in Apple were worth $19,453,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Seaside Wealth Management Inc. increased its holdings in shares of Apple by 8.2% in the second quarter. Seaside Wealth Management Inc. now owns 6,191 shares of the iPhone maker’s stock valued at $1,270,000 after purchasing an additional 468 shares during the period. GSG Advisors LLC increased its holdings in shares of Apple by 0.4% in the second quarter. GSG Advisors LLC now owns 104,194 shares of the iPhone maker’s stock valued at $21,377,000 after purchasing an additional 413 shares during the period. Mirador Capital Partners LP increased its holdings in shares of Apple by 2.4% in the second quarter. Mirador Capital Partners LP now owns 112,648 shares of the iPhone maker’s stock valued at $23,112,000 after purchasing an additional 2,605 shares during the period. David J Yvars Group increased its holdings in shares of Apple by 1.2% in the second quarter. David J Yvars Group now owns 21,626 shares of the iPhone maker’s stock valued at $4,437,000 after purchasing an additional 251 shares during the period. Finally, Lifelong Wealth Advisors Inc. increased its holdings in shares of Apple by 6.9% in the second quarter. Lifelong Wealth Advisors Inc. now owns 6,918 shares of the iPhone maker’s stock valued at $1,419,000 after purchasing an additional 444 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AAPL shares. BMO Capital Markets reissued a “buy” rating on shares of Apple in a report on Wednesday, August 13th. JPMorgan Chase & Co. increased their price objective on Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective on the stock in a report on Thursday, September 4th. Tigress Financial increased their price objective on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Finally, Morgan Stanley set a $240.00 target price on Apple and gave the stock an “overweight” rating in a 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 issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $244.66.

Apple Stock Down 0.8%

Apple stock opened at $252.31 on Thursday. The firm has a market cap of $3.74 trillion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 2.64 and a beta of 1.11. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The business’s 50-day moving average price is $227.04 and its 200 day moving average price is $212.78. 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 (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for 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%.Apple’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.40 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders 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 dividend on an annualized basis and a yield of 0.4%. Apple’s dividend payout ratio is currently 15.78%.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.