Apple Inc. $AAPL Stake Reduced by Crowley Wealth Management Inc.

Crowley Wealth Management Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 48,867 shares of the iPhone maker’s stock after selling 668 shares during the quarter. Apple comprises about 9.1% of Crowley Wealth Management Inc.’s holdings, making the stock its biggest holding. Crowley Wealth Management Inc.’s holdings in Apple were worth $10,026,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AAPL. Ryan Investment Management Inc. purchased a new stake in shares of Apple during the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC boosted 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 valued at $42,000 after acquiring an additional 180 shares during the last quarter. Elite Financial Inc. purchased a new stake in shares of Apple during the 1st quarter valued at about $58,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter valued at about $65,000. Finally, HFM Investment Advisors LLC purchased a new stake in shares of Apple during the 1st quarter valued at about $99,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Down 3.5%

NASDAQ AAPL opened at $245.27 on Friday. The firm has a market capitalization 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. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a fifty day moving average of $237.61 and a two-hundred day moving average of $215.92.

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 firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 earnings per share. 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 announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid a dividend of $0.26 per share. 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 payout ratio is currently 15.78%.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $266.00 price objective on shares of Apple in a research note on Tuesday, August 26th. Bank of America increased their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Barclays increased their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Apple from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

Insider Activity

In related news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple 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 of the company’s stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 254,922 shares of company stock valued at $64,320,190. 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.