Apple Inc. $AAPL Stock Position Decreased by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,444 shares of the iPhone maker’s stock after selling 1,056 shares during the quarter. Asset Advisors Investment Management LLC’s holdings in Apple were worth $7,067,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AAPL. Ryan Investment Management Inc. acquired a new stake in shares of Apple in the second quarter worth $31,000. ROSS JOHNSON & Associates LLC boosted its position in shares of 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 period. Elite Financial Inc. acquired a new stake in shares of Apple in the first quarter worth $58,000. LSV Asset Management acquired a new stake in shares of Apple in the fourth quarter worth $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in shares of Apple in the first quarter worth $99,000. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the business’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 transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock valued at $65,358,981 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AAPL shares. Phillip Securities lowered Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a report on Thursday, September 11th. Melius Research set a $290.00 price objective on Apple and gave the stock a “buy” rating in a report on Wednesday, September 10th. Morgan Stanley set a $298.00 price objective on Apple and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Apple in a report on Friday, July 25th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. Four analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.47.

Apple Price Performance

NASDAQ AAPL opened at $259.58 on Friday. The firm has a market cap of $3.85 trillion, a P/E ratio of 39.39, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09. The stock’s 50-day moving average is $243.53 and its two-hundred day moving average is $218.56. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $265.29. 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 issued its quarterly earnings results 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. The company 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 firm’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business posted $1.40 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple’s payout ratio is presently 15.78%.

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.