Rempart Asset Management Inc. Has $1.40 Million Holdings in Apple Inc. $AAPL

Rempart Asset Management Inc. cut its position in Apple Inc. (NASDAQ:AAPL) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,802 shares of the iPhone maker’s stock after selling 575 shares during the quarter. Apple makes up about 0.3% of Rempart Asset Management Inc.’s holdings, making the stock its 27th biggest position. Rempart Asset Management Inc.’s holdings in Apple were worth $1,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. R.H. Investment Group LLC grew its stake in Apple by 1.1% in the 2nd quarter. R.H. Investment Group LLC now owns 21,725 shares of the iPhone maker’s stock valued at $4,457,000 after buying an additional 242 shares during the last quarter. Generate Investment Management Ltd grew its position in Apple by 1.4% in the 2nd quarter. Generate Investment Management Ltd now owns 184,657 shares of the iPhone maker’s stock worth $37,886,000 after purchasing an additional 2,497 shares during the last quarter. Greenbush Financial Group LLC grew its position in Apple by 3.3% in the 2nd quarter. Greenbush Financial Group LLC now owns 13,297 shares of the iPhone maker’s stock worth $2,728,000 after purchasing an additional 419 shares during the last quarter. Capital Insight Partners LLC grew its position in Apple by 1.9% in the 2nd quarter. Capital Insight Partners LLC now owns 61,254 shares of the iPhone maker’s stock worth $12,567,000 after purchasing an additional 1,127 shares during the last quarter. Finally, Scott & Selber Inc. grew its position in Apple by 0.3% in the 2nd quarter. Scott & Selber Inc. now owns 114,474 shares of the iPhone maker’s stock worth $23,487,000 after purchasing an additional 394 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction dated 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 transaction, the senior vice president directly owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction dated 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 transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,922 shares of company stock valued at $64,320,190 in the last ninety days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on AAPL. Needham & Company LLC restated a “hold” rating on shares of Apple in a research report on Friday, July 25th. Jefferies Financial Group lowered shares of Apple from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $205.82 to $205.16 in a research report on Friday, October 3rd. Rosenblatt Securities raised their price target on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Barclays raised their price target on shares of Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Finally, Monness Crespi & Hardt raised their price target on shares of Apple from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Four 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $248.29.

Apple Price Performance

Shares of Apple stock opened at $249.34 on Thursday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm has a market cap of $3.70 trillion, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The firm’s 50-day simple moving average is $240.12 and its 200-day simple moving average is $216.49. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last announced its quarterly 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period last year, the firm posted $1.40 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

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.