Eagle Capital Management LLC Sells 523 Shares of Apple Inc. $AAPL

Eagle Capital Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,434 shares of the iPhone maker’s stock after selling 523 shares during the period. Apple comprises about 4.7% of Eagle Capital Management LLC’s holdings, making the stock its 6th largest position. Eagle Capital Management LLC’s holdings in Apple were worth $10,758,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Apple by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker’s stock valued at $311,157,662,000 after acquiring an additional 5,005,297 shares during the period. Kingstone Capital Partners Texas LLC increased its position in Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after acquiring an additional 205,656,808 shares during the period. Northern Trust Corp increased its position in Apple by 13.3% in the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Apple by 14.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Apple by 1.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 98,099,909 shares of the iPhone maker’s stock valued at $21,790,933,000 after acquiring an additional 984,157 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on AAPL shares. Raymond James Financial restated an “outperform” rating and issued a $240.00 price target (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Citigroup restated a “buy” rating on shares of Apple in a research report on Wednesday, September 10th. BMO Capital Markets reiterated a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. HSBC set a $220.00 target price on Apple and gave the stock a “hold” rating in a research report on Monday, September 8th. Finally, Morgan Stanley set a $298.00 target price on Apple and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $251.47.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $262.24 on Tuesday. The firm has a market capitalization of $3.89 trillion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business’s 50 day simple moving average is $241.83 and its 200-day simple moving average is $217.42. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $264.38.

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

Apple Dividend Announcement

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 $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 15.78%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the company’s 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 259,121 shares of company stock worth $65,358,981. 0.06% of the stock is currently owned by insiders.

Apple Company 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.