Apple Inc. $AAPL Stake Reduced by Regatta Capital Group LLC

Regatta Capital Group LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 2.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,931 shares of the iPhone maker’s stock after selling 2,802 shares during the quarter. Apple accounts for 4.4% of Regatta Capital Group LLC’s holdings, making the stock its 4th largest holding. Regatta Capital Group LLC’s holdings in Apple were worth $25,837,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Signal Tree Financial Partners LLC acquired a new position in Apple during the 2nd quarter worth about $1,266,000. Total Wealth Planning LLC lifted its stake in Apple by 1.8% during the 2nd quarter. Total Wealth Planning LLC now owns 5,233 shares of the iPhone maker’s stock worth $1,074,000 after acquiring an additional 94 shares in the last quarter. Retireful LLC acquired a new position in Apple during the 2nd quarter worth about $268,000. Legacy Solutions LLC lifted its stake in Apple by 12.1% during the 2nd quarter. Legacy Solutions LLC now owns 3,902 shares of the iPhone maker’s stock worth $800,000 after acquiring an additional 421 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in Apple by 1.1% during the 2nd quarter. TD Private Client Wealth LLC now owns 118,933 shares of the iPhone maker’s stock worth $24,402,000 after acquiring an additional 1,283 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the firm’s 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 in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock worth $64,320,190 over the last quarter. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AAPL shares. Monness Crespi & Hardt increased their target price on Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a report on Wednesday, October 1st. 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 objective for the company. Loop Capital lowered their price objective on Apple from $230.00 to $226.00 and set a “hold” rating for the company in a research report on Thursday, August 21st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $240.00 target price (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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $247.49.

Apple Stock Performance

NASDAQ AAPL opened at $256.48 on Wednesday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a market capitalization of $3.81 trillion, a P/E ratio of 38.92, a PEG ratio of 2.50 and a beta of 1.09. The business has a 50 day moving average price of $234.84 and a 200 day moving average price of $215.25. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for 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%.Apple’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. Sell-side analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) 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.