Apple Inc. $AAPL Shares Sold by McCarthy & Cox

McCarthy & Cox lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,544 shares of the iPhone maker’s stock after selling 122 shares during the quarter. McCarthy & Cox’s holdings in Apple were worth $317,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ryan Investment Management Inc. acquired a new stake in Apple during the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC grew its stake in Apple by 1,800.0% during 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 in the last quarter. Elite Financial Inc. acquired a new stake in Apple during the 1st quarter valued at approximately $58,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter valued at approximately $63,000. Finally, LSV Asset Management acquired a new stake in Apple during the 4th quarter valued at approximately $65,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Down 0.5%

NASDAQ:AAPL opened at $256.69 on Tuesday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market capitalization of $3.81 trillion, a P/E ratio of 38.95, a P/E/G ratio of 2.51 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50 day simple moving average of $233.94 and a 200 day simple moving average of $214.96.

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

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Apple in a research note on Saturday, September 27th. Rosenblatt Securities lifted their target price on Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Citigroup reiterated a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. Tigress Financial lifted their target price on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Finally, Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $247.49.

Insider Activity at Apple

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 transaction of $12,101,228.75. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of Apple 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 sale, the chief executive officer directly owned 3,280,295 shares in the company, 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. Insiders sold 254,922 shares of company stock worth $64,320,190 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

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.