Apple Inc. $AAPL Position Decreased by Hoey Investments Inc.

Hoey Investments Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,811 shares of the iPhone maker’s stock after selling 12,898 shares during the period. Apple makes up 2.2% of Hoey Investments Inc.’s investment portfolio, making the stock its 6th largest position. Hoey Investments Inc.’s holdings in Apple were worth $15,144,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AAPL. Ryan Investment Management Inc. purchased a new position in shares of Apple during the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC grew its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. Conquis Financial LLC purchased a new position in shares of Apple during the fourth quarter worth approximately $63,000. LSV Asset Management bought a new stake in shares of Apple in the 4th quarter worth approximately $65,000. Finally, Elite Financial Inc. bought a new stake in shares of Apple in the 1st quarter worth approximately $58,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AAPL. Raymond James Financial restated an “outperform” rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. Loop Capital lowered their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, August 21st. Phillip Securities lowered shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a report on Thursday, September 11th. JPMorgan Chase & Co. boosted their price objective on shares of Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Apple in a report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $247.49.

Insider Activity

In other news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock worth $64,320,190 in the last quarter. 0.06% of the stock is owned by company insiders.

Apple Trading Up 0.3%

AAPL opened at $258.02 on Friday. The stock has a market cap of $3.83 trillion, a PE ratio of 39.15, a PEG ratio of 2.49 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a 50 day moving average of $233.09 and a 200-day moving average of $214.69. Apple Inc. has a 52 week low of $169.21 and a 52 week 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, beating analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS. Equities research analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid 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 presently 15.78%.

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.