Acropolis Investment Management LLC Sells 443 Shares of Apple Inc. $AAPL

Acropolis Investment Management LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 0.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 79,358 shares of the iPhone maker’s stock after selling 443 shares during the quarter. Apple makes up approximately 0.9% of Acropolis Investment Management LLC’s investment portfolio, making the stock its 19th largest holding. Acropolis Investment Management LLC’s holdings in Apple were worth $16,282,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. LaFleur & Godfrey LLC grew its stake in shares of Apple by 1.0% during the second quarter. LaFleur & Godfrey LLC now owns 222,002 shares of the iPhone maker’s stock worth $45,548,000 after acquiring an additional 2,128 shares during the last quarter. BlueSky Wealth Advisors LLC grew its stake in shares of Apple by 5.3% during the second quarter. BlueSky Wealth Advisors LLC now owns 9,035 shares of the iPhone maker’s stock worth $1,854,000 after acquiring an additional 451 shares during the last quarter. Financial Harvest LLC purchased a new stake in shares of Apple during the second quarter worth about $1,992,000. KFG Wealth Management LLC grew its stake in shares of Apple by 32.8% during the second quarter. KFG Wealth Management LLC now owns 27,774 shares of the iPhone maker’s stock worth $5,698,000 after acquiring an additional 6,867 shares during the last quarter. Finally, Friday Financial grew its stake in shares of Apple by 8.3% during the second quarter. Friday Financial now owns 18,303 shares of the iPhone maker’s stock worth $3,755,000 after acquiring an additional 1,401 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 34,821 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.7%

NASDAQ AAPL opened at $257.13 on Friday. The business has a fifty day moving average price of $232.20 and a 200 day moving average price of $214.38. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market cap of $3.82 trillion, a P/E ratio of 39.02, a P/E/G ratio of 2.48 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the prior year, the company earned $1.40 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $266.00 price target on shares of Apple in a research note on Tuesday, August 26th. Tigress Financial boosted their price target on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. HSBC set a $220.00 target price on Apple and gave the company a “hold” rating in a research report on Monday, September 8th. Finally, JPMorgan Chase & Co. upped their target price on Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $247.51.

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.