Westend Capital Management LLC Has $390,000 Position in Apple Inc. $AAPL

Westend Capital Management LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 97.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,902 shares of the iPhone maker’s stock after selling 67,637 shares during the period. Westend Capital Management LLC’s holdings in Apple were worth $390,000 as of its most recent filing with the SEC.

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

Insider Activity 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research reports. BMO Capital Markets reissued a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Sanford C. Bernstein assumed coverage on Apple in a research report on Monday, September 15th. They set an “outperform” rating and a $290.00 price objective for the company. Jefferies Financial Group lifted their target price on Apple from $190.67 to $205.82 and gave the company a “hold” rating in a research report on Monday, September 8th. Needham & Company LLC restated a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, Barclays raised their price target on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $245.51.

Apple Price Performance

NASDAQ:AAPL opened at $255.45 on Thursday. 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 Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The stock’s 50 day moving average price is $231.34 and its two-hundred day moving average price is $214.08. The firm has a market capitalization of $3.79 trillion, a price-to-earnings ratio of 38.76, a P/E/G ratio of 2.64 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business 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 business earned $1.40 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. 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 (DPR) is currently 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.