Embree Financial Group Sells 412 Shares of Apple Inc. $AAPL

Embree Financial Group cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,963 shares of the iPhone maker’s stock after selling 412 shares during the quarter. Apple makes up approximately 4.2% of Embree Financial Group’s portfolio, making the stock its 4th biggest position. Embree Financial Group’s holdings in Apple were worth $27,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Advanced Portfolio Management LLC lifted its stake in shares of Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after purchasing an additional 47 shares during the period. Salus Financial Advisors LLC lifted its stake in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after purchasing an additional 49 shares during the period. Sharpepoint LLC lifted its stake in shares of Apple by 3.5% in the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after purchasing an additional 51 shares during the period. Redwood Financial Network Corp lifted its stake in shares of Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after purchasing an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC lifted its stake in shares of Apple by 1.3% in the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after purchasing an additional 53 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the company’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 value of $33,375,798.03. Following the completion of the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,922 shares of company stock worth $64,320,190. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL stock opened at $245.27 on Friday. The firm has a market cap of $3.64 trillion, a PE ratio of 37.22, a P/E/G ratio of 2.47 and a beta of 1.09. 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 business has a 50 day moving average of $237.61 and a 200-day moving average of $215.92. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

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

Apple Dividend Announcement

The firm 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. 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 dividend payout ratio is currently 15.78%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent analyst reports. BMO Capital Markets reissued a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Melius Research set a $290.00 price target on Apple and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and dropped their price target for the stock from $205.82 to $205.16 in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Apple in a research note on Wednesday. Finally, Morgan Stanley set a $298.00 price target on Apple and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

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.