Apple Inc. $AAPL Shares Sold by Nicholson Meyer Capital Management Inc.

Nicholson Meyer Capital Management Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,598 shares of the iPhone maker’s stock after selling 359 shares during the quarter. Apple accounts for about 1.8% of Nicholson Meyer Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. Nicholson Meyer Capital Management Inc.’s holdings in Apple were worth $2,174,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. acquired a new position in Apple in the second quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC grew its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after buying an additional 180 shares during the last quarter. Elite Financial Inc. acquired a new position in Apple in the first quarter worth approximately $58,000. LSV Asset Management purchased a new position in Apple during the 4th quarter worth approximately $65,000. Finally, HFM Investment Advisors LLC purchased a new position in Apple during the 1st quarter worth approximately $99,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Down 0.8%

Apple stock opened at $247.45 on Friday. The company’s fifty day simple moving average is $240.67 and its 200-day simple moving average is $216.66. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a market cap of $3.67 trillion, a P/E ratio of 37.55, a P/E/G ratio of 2.43 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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 business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same quarter in the previous year, the business earned $1.40 EPS. Apple’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 43,013 shares of Apple 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 completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,922 shares of company stock valued at $64,320,190. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on AAPL shares. Wedbush set a $310.00 price objective on shares of Apple and gave the stock an “outperform” rating in a research report on Monday, September 22nd. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Melius Research set a $290.00 price objective on shares of Apple and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Bank of America lifted their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective on the stock in a research report on Thursday, September 4th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.