Apple Inc. $AAPL Shares Sold by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 464,372 shares of the iPhone maker’s stock after selling 26,597 shares during the period. Apple accounts for about 5.4% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its 3rd biggest position. Smith Chas P & Associates PA Cpas’ holdings in Apple were worth $95,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. Ryan Investment Management Inc. purchased a new stake in Apple in the 2nd quarter worth approximately $31,000. ROSS JOHNSON & Associates LLC grew its stake in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after acquiring an additional 180 shares during the period. Elite Financial Inc. purchased a new stake in Apple in the 1st quarter worth approximately $58,000. LSV Asset Management purchased a new stake in Apple in the 4th quarter worth approximately $65,000. Finally, HFM Investment Advisors LLC purchased a new stake in Apple in the 1st quarter worth approximately $99,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on 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 transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction 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 $842,412,558.95. This represents a 3.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock worth $64,320,190 in the last quarter. 0.06% of the stock is owned by corporate insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $247.45 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 37.55, a PEG ratio of 2.43 and a beta of 1.09. The firm’s fifty day simple moving average is $240.67 and its 200 day simple moving average is $216.66. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

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

Apple Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have commented on AAPL. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a research note on Thursday, September 11th. Wedbush set a $310.00 price objective on shares of Apple and gave the company an “outperform” rating in a research note on Monday, September 22nd. Needham & Company LLC reissued a “hold” rating on shares of Apple in a research note on Friday, July 25th. Finally, HSBC set a $220.00 price objective on shares of Apple and gave the company a “hold” rating in a research note on Monday, September 8th. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average 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.