Bay Capital Advisors LLC Decreases Holdings in Apple Inc. $AAPL

Bay Capital Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,751 shares of the iPhone maker’s stock after selling 77 shares during the period. Apple comprises 1.8% of Bay Capital Advisors LLC’s investment portfolio, making the stock its 11th largest position. Bay Capital Advisors LLC’s holdings in Apple were worth $2,411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in Apple by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock worth $311,157,662,000 after acquiring an additional 5,005,297 shares during the last quarter. Geode Capital Management LLC grew its position in Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker’s stock worth $84,999,145,000 after acquiring an additional 6,307,413 shares during the last quarter. Kingstone Capital Partners Texas LLC grew its position in Apple by 573,627.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after acquiring an additional 205,656,808 shares during the last quarter. Northern Trust Corp grew its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock worth $42,918,365,000 after acquiring an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock worth $26,220,566,000 after acquiring an additional 13,137,968 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Up 0.3%

Apple stock opened at $258.02 on Friday. The firm has a market cap of $3.83 trillion, a price-to-earnings ratio of 39.15, a PEG ratio of 2.50 and a beta of 1.09. The stock has a fifty day simple moving average of $233.09 and a two-hundred day simple moving average of $214.69. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction 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 sale, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,922 shares of company stock valued at $64,320,190. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several research analyst reports. Phillip Securities cut 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. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a report on Wednesday. The Goldman Sachs Group reiterated a “buy” rating and issued a $266.00 price objective on shares of Apple in a report on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Apple in a report on Saturday, September 27th. Finally, Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $247.49.

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.