Apple Inc. $AAPL Shares Sold by Michels Family Financial LLC

Michels Family Financial LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,800 shares of the iPhone maker’s stock after selling 482 shares during the period. Michels Family Financial LLC’s holdings in Apple were worth $985,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AAPL. Salus Financial Advisors LLC increased its stake in shares of Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after acquiring an additional 49 shares during the period. Sharpepoint LLC boosted its stake in Apple by 3.5% in the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after purchasing an additional 51 shares during the period. Redwood Financial Network Corp boosted its stake in Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after purchasing an additional 53 shares during the period. Mission Hills Financial Advisory LLC boosted its position in Apple by 1.3% during the first 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 last quarter. Finally, Lockerman Financial Group Inc. boosted its position in Apple by 0.9% during the first quarter. Lockerman Financial Group Inc. now owns 6,365 shares of the iPhone maker’s stock valued at $1,414,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on AAPL shares. BMO Capital Markets reissued a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. HSBC set a $220.00 price objective on shares of Apple and gave the stock a “hold” rating in a research note on Monday, September 8th. UBS Group restated a “neutral” rating on shares of Apple in a research report on Monday, September 8th. Loop Capital reduced their price objective on shares of Apple from $230.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, August 21st. Finally, Morgan Stanley set a $298.00 price objective on shares of Apple and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the firm’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 sale, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Deirdre O’brien sold 43,013 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,922 shares of company stock worth $64,320,190. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 1.0%

Apple stock opened at $247.66 on Tuesday. The firm has a market capitalization of $3.68 trillion, a PE ratio of 37.58, a P/E/G ratio of 2.39 and a beta of 1.09. 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 Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company’s 50-day moving average is $238.50 and its 200-day moving average is $216.04.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating the consensus estimate 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 business’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given 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 was Monday, August 11th. Apple’s dividend payout ratio is presently 15.78%.

About Apple

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.