Apple Inc. $AAPL Shares Sold by Shulman DeMeo Asset Management LLC

Shulman DeMeo Asset Management LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,219 shares of the iPhone maker’s stock after selling 419 shares during the period. Apple comprises approximately 3.2% of Shulman DeMeo Asset Management LLC’s holdings, making the stock its 4th largest holding. Shulman DeMeo Asset Management LLC’s holdings in Apple were worth $12,971,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. BMO Capital Markets restated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target on the stock. in a research report on Thursday, September 11th. Sanford C. Bernstein assumed coverage on Apple in a research report on Monday, September 15th. They set an “outperform” rating and a $290.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Finally, UBS Group restated a “neutral” rating on shares of Apple in a research report on Monday, September 8th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $247.49.

Insider Activity

In other news, SVP Katherine L. Adams sold 47,125 shares of the 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 transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This 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 stock in a transaction 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 directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock valued at $64,320,190 in the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Stock Down 0.5%

Shares of AAPL opened at $256.69 on Tuesday. The firm has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 38.95, a PEG ratio of 2.51 and a beta of 1.09. 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 business’s fifty day moving average price is $233.94 and its two-hundred day moving average price is $214.96. Apple Inc. has a 52 week low of $169.21 and a 52 week 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 for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.40 EPS. On average, analysts predict that Apple Inc. will post 7.28 earnings per share for the current 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 paid 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 is 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.