Apple Inc. $AAPL Shares Sold by Congress Park Capital LLC

Congress Park Capital LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,910 shares of the iPhone maker’s stock after selling 895 shares during the quarter. Apple accounts for about 2.5% of Congress Park Capital LLC’s portfolio, making the stock its 14th largest holding. Congress Park Capital LLC’s holdings in Apple were worth $7,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of AAPL. Kingstone Capital Partners Texas LLC raised its holdings in Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after purchasing an additional 205,656,808 shares during the period. Norges Bank acquired a new position in Apple in the 4th quarter worth about $46,868,648,000. Nuveen LLC acquired a new position in Apple in the 1st quarter worth about $17,472,482,000. GAMMA Investing LLC raised its holdings in Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after purchasing an additional 59,835,676 shares during the period. Finally, Northern Trust Corp raised its holdings in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a report on Thursday, September 4th. The Goldman Sachs Group reissued a “buy” rating and set a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. Phillip Securities cut Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price for the company. in a report on Thursday, September 11th. Loop Capital reduced their target price on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, August 21st. Finally, Evercore ISI set a $290.00 target price on Apple and gave the company an “outperform” rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.51.

Insiders Place Their Bets

In related 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 value of $7,772,047.20. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $254.63 on Wednesday. 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 business has a 50 day simple moving average of $230.51 and a 200-day simple moving average of $213.80. The firm has a market capitalization of $3.78 trillion, a PE ratio of 38.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

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, beating analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 earnings per share. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

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.