Financial Management Professionals Inc. Sells 1,669 Shares of Apple Inc. $AAPL

Financial Management Professionals Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,732 shares of the iPhone maker’s stock after selling 1,669 shares during the period. Apple accounts for about 0.5% of Financial Management Professionals Inc.’s holdings, making the stock its 27th largest holding. Financial Management Professionals Inc.’s holdings in Apple were worth $4,254,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AAPL. Ryan Investment Management Inc. purchased a new stake in shares of Apple in the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC grew its holdings in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. Elite Financial Inc. bought a new position in shares of Apple in the 1st quarter worth approximately $58,000. Conquis Financial LLC bought a new stake in shares of Apple during the 4th quarter valued at $63,000. Finally, LSV Asset Management purchased a new stake in shares of Apple in the 4th quarter worth about $65,000. 67.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AAPL shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Apple in a research report on Saturday, September 27th. Loop Capital reduced their price target on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Apple in a report on Friday, July 25th. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Citigroup restated a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $247.49.

Insider Activity

In other news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were 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 in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $256.69 on Tuesday. 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 firm has a market cap of $3.81 trillion, a price-to-earnings ratio of 38.95, a P/E/G ratio of 2.51 and a beta of 1.09. The firm has a fifty day moving average price of $233.94 and a 200 day moving average price of $214.96. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10.

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

Apple Dividend Announcement

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

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.