Cambridge Advisors Inc. Sells 2,716 Shares of Apple Inc. $AAPL

Cambridge Advisors Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 6.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,940 shares of the iPhone maker’s stock after selling 2,716 shares during the period. Apple accounts for approximately 1.6% of Cambridge Advisors Inc.’s portfolio, making the stock its 14th biggest holding. Cambridge Advisors Inc.’s holdings in Apple were worth $7,784,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Ryan Investment Management Inc. acquired a new stake in Apple during the second quarter worth about $31,000. ROSS JOHNSON & Associates LLC boosted its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. LSV Asset Management acquired a new stake in Apple during the fourth quarter valued at approximately $65,000. Elite Financial Inc. acquired a new stake in Apple during the first quarter valued at approximately $58,000. Finally, HFM Investment Advisors LLC acquired a new stake in Apple during the first quarter valued at approximately $99,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total value of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s 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 transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This 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 90 days. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $266.00 target price on shares of Apple in a report on Tuesday, August 26th. Raymond James Financial restated an “outperform” rating and issued a $240.00 price objective (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Wedbush set a $310.00 target price on Apple and gave the stock an “outperform” rating in a report on Monday, September 22nd. DA Davidson restated a “neutral” rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 11th. Finally, Tigress Financial raised their target price on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 17th. Four analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $248.29.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $245.27 on Friday. The company’s 50 day simple moving average is $237.61 and its 200 day simple moving average is $215.92. The stock has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 37.22, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. 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 posted its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping 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 net margin of 24.30% and a return on equity of 170.91%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. As a group, research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s payout ratio is currently 15.78%.

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.