Apple Inc. $AAPL Shares Sold by Poinciana Advisors Group LLC

Poinciana Advisors Group LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 35.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,742 shares of the iPhone maker’s stock after selling 2,554 shares during the period. Apple makes up 0.9% of Poinciana Advisors Group LLC’s holdings, making the stock its 24th largest position. Poinciana Advisors Group LLC’s holdings in Apple were worth $973,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AAPL. Salus Financial Advisors LLC grew its holdings in Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after acquiring an additional 49 shares during the period. Sharpepoint LLC grew its holdings in Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after acquiring an additional 51 shares during the period. Redwood Financial Network Corp grew its holdings in Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after acquiring an additional 53 shares during the period. Mission Hills Financial Advisory LLC grew its holdings 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 worth $892,000 after acquiring an additional 53 shares during the period. Finally, Virginia Wealth Management Group Inc. grew its holdings in Apple by 0.3% during the second quarter. Virginia Wealth Management Group Inc. now owns 20,946 shares of the iPhone maker’s stock worth $4,298,000 after acquiring an additional 53 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock worth $65,358,981 in the last three months. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $252.29 on Friday. The company has a market cap of $3.74 trillion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. The stock’s 50 day simple moving average is $241.13 and its 200-day simple moving average is $216.86. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $260.10. 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 (NASDAQ:AAPL) last released 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 the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 earnings per share. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued 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 dividend payout ratio (DPR) is currently 15.78%.

Analyst Ratings Changes

AAPL has been the topic of several analyst reports. Citigroup reaffirmed a “buy” rating on shares of Apple in a report on Wednesday, September 10th. Barclays increased their price target on Apple from $173.00 to $180.00 and gave the stock an “underweight” rating in a research report on Friday, August 1st. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Rosenblatt Securities increased their price target on Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Finally, Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target on the stock. in a research report on Thursday, September 11th. 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $248.29.

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.