BOS Asset Management LLC Sells 242 Shares of Apple Inc. $AAPL

BOS Asset Management LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,655 shares of the iPhone maker’s stock after selling 242 shares during the quarter. Apple makes up 2.0% of BOS Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. BOS Asset Management LLC’s holdings in Apple were worth $6,289,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Burkett Financial Services LLC boosted its position in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker’s stock valued at $3,199,000 after purchasing an additional 93 shares during the period. Avid Wealth Partners LLC increased its stake in Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC increased its position in Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock worth $13,772,000 after buying an additional 240 shares in the last quarter. Andina Capital Management LLC boosted its holdings in shares of Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares during the last quarter. Finally, Plum Street Advisors LLC boosted its holdings in shares of Apple by 4.0% during the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock worth $1,752,000 after purchasing an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on AAPL. Barclays boosted 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. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research note on Thursday, September 4th. HSBC set a $220.00 target price on Apple and gave the company a “hold” rating in a research note on Monday, September 8th. Morgan Stanley set a $298.00 target price on Apple and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, CLSA upgraded Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $248.29.

Apple Trading Down 3.5%

NASDAQ AAPL opened at $245.27 on Friday. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $3.64 trillion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. The firm’s fifty day simple moving average is $237.61 and its 200-day simple moving average is $215.92.

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

Apple Announces Dividend

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

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock valued at $64,320,190 over the last three months. 0.06% of the stock is owned by corporate 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.