Cobblestone Asset Management LLC Sells 229 Shares of Apple Inc. $AAPL

Cobblestone Asset Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,798 shares of the iPhone maker’s stock after selling 229 shares during the period. Apple makes up approximately 0.8% of Cobblestone Asset Management LLC’s investment portfolio, making the stock its 25th biggest position. Cobblestone Asset Management LLC’s holdings in Apple were worth $1,600,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. First National Bank of Hutchinson grew its stake in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after buying an additional 6,982 shares in the last quarter. Eagle Capital Management LLC boosted its position in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC increased its stake in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after acquiring an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its stake in Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after purchasing an additional 1,155 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AAPL. DA Davidson reiterated a “neutral” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 11th. Bank of America upped their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. JPMorgan Chase & Co. raised their target price on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Rosenblatt Securities boosted their target price on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Finally, Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a research note on Thursday, September 4th. Two investment 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 assigned a Sell rating to the stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.51.

Apple Price Performance

Apple stock opened at $255.45 on Thursday. The stock’s 50 day moving average is $231.34 and its 200 day moving average is $214.08. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The firm has a market cap of $3.79 trillion, a P/E ratio of 38.76, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

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. The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 EPS. As a group, research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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 $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is presently 15.78%.

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 34,821 shares of the company’s stock in a transaction on Friday, August 8th. The shares were 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 of the company’s stock, 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 can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

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.