Apple Inc. $AAPL Stock Holdings Cut by Mainstream Capital Management LLC

Mainstream Capital Management LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,737 shares of the iPhone maker’s stock after selling 1,124 shares during the period. Apple comprises 5.6% of Mainstream Capital Management LLC’s holdings, making the stock its 2nd largest holding. Mainstream Capital Management LLC’s holdings in Apple were worth $7,742,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC lifted its position in Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Apple in the first quarter valued at $17,472,482,000. GAMMA Investing LLC lifted its holdings in shares of Apple by 25,934.1% in the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker’s stock worth $133,425,490,000 after acquiring an additional 59,835,676 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Apple by 13.3% in 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, Amundi boosted its stake in shares of Apple by 27.4% during the 1st quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock worth $13,870,795,000 after purchasing an additional 14,651,321 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 254,922 shares of company stock valued at $64,320,190. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on AAPL shares. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research report on Friday, July 25th. Raymond James Financial reaffirmed an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a research note on Friday, August 1st. Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target on the stock. in a report on Thursday, September 11th. Weiss Ratings restated a “hold (c+)” rating on shares of Apple in a report on Saturday, September 27th. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $247.49.

Apple Trading Up 0.3%

Apple stock opened at $258.02 on Monday. 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 stock has a market cap of $3.83 trillion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09. The stock has a 50-day moving average of $233.09 and a two-hundred day moving average of $214.69. Apple Inc. has a one year low of $169.21 and a one year high of $260.10.

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

Apple Dividend Announcement

The business also recently declared 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 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.