Apple Inc. $AAPL Shares Sold by Eagle Bluffs Wealth Management LLC

Eagle Bluffs Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,914 shares of the iPhone maker’s stock after selling 57 shares during the period. Eagle Bluffs Wealth Management LLC’s holdings in Apple were worth $1,419,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AAPL. First National Bank of Hutchinson grew its holdings in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock valued at $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC grew its holdings in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC grew its holdings in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock valued at $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on AAPL. Jefferies Financial Group downgraded shares of Apple from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $205.82 to $205.16 in a research note on Friday, October 3rd. CLSA upgraded shares of Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Rosenblatt Securities increased their price objective on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Bank of America increased their price objective on shares of Apple from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, Monness Crespi & Hardt increased their price objective on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $248.29.

Insider Activity

In related news, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction dated 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 sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This trade represents a 32.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the senior vice president owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is owned by company insiders.

Apple Trading Up 2.0%

Apple stock opened at $252.29 on Friday. The firm’s 50-day moving average is $241.13 and its 200-day moving average is $216.81. 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 Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market cap of $3.74 trillion, a P/E ratio of 38.28, a PEG ratio of 2.46 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period last year, the firm posted $1.40 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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