CGN Advisors LLC Lowers Stock Holdings in Apple Inc. $AAPL

CGN Advisors LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,417 shares of the iPhone maker’s stock after selling 663 shares during the quarter. Apple makes up approximately 0.9% of CGN Advisors LLC’s portfolio, making the stock its 25th biggest holding. CGN Advisors LLC’s holdings in Apple were worth $9,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ryan Investment Management Inc. bought a new position in shares of Apple in the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC increased its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Life Planning Partners Inc bought a new position in shares of Apple in the fourth quarter worth approximately $47,000. Elite Financial Inc. bought a new position in shares of Apple in the first quarter worth approximately $58,000. Finally, Conquis Financial LLC bought a new position in shares of Apple in the fourth quarter worth approximately $63,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated 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 of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was 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 directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This represents 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 valued at $64,320,190 in the last quarter. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley set a $298.00 price objective on shares of Apple and gave the stock an “overweight” rating in a research report on Thursday. DA Davidson restated a “neutral” rating and issued a $250.00 price objective on shares of Apple in a research report on Thursday, September 11th. JPMorgan Chase & Co. increased their price target on shares of Apple from $255.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Melius Research set a $290.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $240.00 price target (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $247.49.

Apple Stock Performance

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

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. The firm 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%.Apple’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 EPS. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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

About Apple

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.