Apple Inc. $AAPL Shares Sold by Cathy Pareto & Associates Inc.

Cathy Pareto & Associates Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,614 shares of the iPhone maker’s stock after selling 2,837 shares during the period. Apple makes up approximately 6.0% of Cathy Pareto & Associates Inc.’s investment portfolio, making the stock its 2nd biggest position. Cathy Pareto & Associates Inc.’s holdings in Apple were worth $7,306,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Palacios Wealth Management LLC raised its position in Apple by 127.5% during the second quarter. Palacios Wealth Management LLC now owns 28,646 shares of the iPhone maker’s stock valued at $5,877,000 after purchasing an additional 16,056 shares in the last quarter. Avanza Fonder AB grew its stake in shares of Apple by 3.5% during the second quarter. Avanza Fonder AB now owns 1,457,753 shares of the iPhone maker’s stock worth $299,087,000 after buying an additional 49,015 shares during the last quarter. Matrix Trust Co grew its stake in shares of Apple by 8.9% during the second quarter. Matrix Trust Co now owns 14,128 shares of the iPhone maker’s stock worth $2,899,000 after buying an additional 1,151 shares during the last quarter. Sowell Financial Services LLC grew its stake in shares of Apple by 1.0% during the second quarter. Sowell Financial Services LLC now owns 403,635 shares of the iPhone maker’s stock worth $82,814,000 after buying an additional 3,892 shares during the last quarter. Finally, Physician Wealth Advisors Inc. grew its stake in shares of Apple by 0.3% during the second quarter. Physician Wealth Advisors Inc. now owns 76,639 shares of the iPhone maker’s stock worth $15,724,000 after buying an additional 264 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of AAPL opened at $255.45 on Thursday. The stock has a market capitalization of $3.79 trillion, a P/E ratio of 38.76, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. The firm’s fifty day simple moving average is $231.34 and its two-hundred day simple moving average is $214.08. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The business’s revenue was up 9.6% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 7.28 EPS for the current 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 issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s dividend payout ratio is currently 15.78%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AAPL shares. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Wedbush set a $310.00 price objective on shares of Apple and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, DA Davidson reissued a “neutral” rating and issued a $250.00 price objective on shares of Apple in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $245.51.

Insider Buying and Selling at Apple

In related 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 sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.06% of the stock is owned by corporate insiders.

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.