Apple Inc. $AAPL Stock Position Decreased by Rebalance LLC

Rebalance LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 14.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,578 shares of the iPhone maker’s stock after selling 1,858 shares during the period. Rebalance LLC’s holdings in Apple were worth $2,170,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AAPL. Ryan Investment Management Inc. bought a new position in Apple in the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC grew its position in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. bought a new position in Apple in the 1st quarter worth about $58,000. LSV Asset Management bought a new position in Apple in the 4th quarter worth about $65,000. Finally, HFM Investment Advisors LLC bought a new position in Apple in the 1st quarter worth about $99,000. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on AAPL shares. Tigress Financial upped their target price on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. DA Davidson restated a “neutral” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 11th. Raymond James Financial restated an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Loop Capital decreased their target price 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. Finally, UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, September 8th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $248.29.

Apple Stock Down 3.5%

AAPL stock opened at $245.27 on Friday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company’s 50 day simple moving average is $237.61 and its 200-day simple moving average is $215.92. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.64 trillion, a P/E ratio of 37.22, a P/E/G ratio of 2.47 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its quarterly 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the business earned $1.40 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is currently 15.78%.

Insider Activity

In other news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction 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. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were 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 represents a 20.83% 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 90 days. 0.06% of the stock is 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.