Apple Inc. $AAPL Stake Trimmed by Seascape Capital Management

Seascape Capital Management reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,727 shares of the iPhone maker’s stock after selling 436 shares during the period. Apple comprises 1.9% of Seascape Capital Management’s investment portfolio, making the stock its 10th largest holding. Seascape Capital Management’s holdings in Apple were worth $6,099,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Ryan Investment Management Inc. purchased a new stake in shares of Apple in the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC increased its position in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Life Planning Partners Inc purchased a new stake in shares of Apple in the 4th quarter valued at approximately $47,000. Elite Financial Inc. purchased a new stake in shares of Apple in the 1st quarter valued at approximately $58,000. Finally, Conquis Financial LLC purchased a new stake in shares of Apple in the 4th quarter valued at approximately $63,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.7%

Shares of NASDAQ:AAPL opened at $257.13 on Friday. The stock 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. The firm has a fifty day moving average price of $232.20 and a 200 day moving average price of $214.38. 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 Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter last year, the business earned $1.40 EPS. The business’s revenue was up 9.6% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders 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 (DPR) is currently 15.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AAPL shares. Morgan Stanley set a $298.00 price objective on shares of Apple and gave the company an “overweight” rating in a research report on Thursday. Melius Research set a $290.00 price objective on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, September 10th. Jefferies Financial Group upped their target price on shares of Apple from $190.67 to $205.82 and gave the company a “hold” rating in a report on Monday, September 8th. Evercore ISI set a $290.00 target price on shares of Apple and gave the company an “outperform” rating in a report on Friday, September 26th. Finally, HSBC set a $220.00 target price on shares of Apple and gave the company a “hold” rating in a report on Monday, September 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $247.51.

Insider Activity

In other news, SVP Deirdre O’brien sold 34,821 shares of the 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 completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Apple 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.