Apple Inc. $AAPL Shares Sold by FCG Investment Co

FCG Investment Co lowered its stake in Apple Inc. (NASDAQ:AAPL) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,074 shares of the iPhone maker’s stock after selling 3,656 shares during the period. Apple accounts for 5.9% of FCG Investment Co’s portfolio, making the stock its 4th largest position. FCG Investment Co’s holdings in Apple were worth $11,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of AAPL. Ryan Investment Management Inc. acquired a new stake in Apple during the 2nd quarter worth $31,000. ROSS JOHNSON & Associates LLC grew its holdings in 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. acquired a new position in shares of Apple in the 1st quarter valued at $58,000. LSV Asset Management bought a new stake in shares of Apple in the 4th quarter valued at $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in Apple during the 1st quarter worth $99,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the topic of several research analyst reports. Barclays raised their price objective on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Melius Research set a $290.00 price objective on Apple and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Tigress Financial raised their price objective on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $205.82 to $205.16 in a research note on Friday, October 3rd. Finally, Loop Capital dropped their price objective on Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $248.29.

Apple Stock Down 3.5%

Shares of AAPL stock opened at $245.27 on Friday. 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’s 50-day moving average is $237.61 and its 200-day moving average is $215.92. The stock has a market cap of $3.64 trillion, a price-to-earnings ratio of 37.22, a PEG ratio of 2.47 and a beta of 1.09. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results 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. The company had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 EPS. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated 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 transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction dated 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 transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 254,922 shares of company stock valued at $64,320,190. 0.06% of the stock is owned by company insiders.

Apple 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.