NTV Asset Management LLC Sells 4,773 Shares of Apple Inc. $AAPL

NTV Asset Management LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 122,867 shares of the iPhone maker’s stock after selling 4,773 shares during the quarter. Apple accounts for 3.0% of NTV Asset Management LLC’s portfolio, making the stock its 5th largest position. NTV Asset Management LLC’s holdings in Apple were worth $25,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ryan Investment Management Inc. acquired a new stake in shares of Apple during the second quarter worth $31,000. ROSS JOHNSON & Associates LLC raised its position in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the period. Elite Financial Inc. acquired a new stake in shares of Apple during the first quarter worth $58,000. LSV Asset Management acquired a new stake in shares of Apple during the fourth quarter worth $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in shares of Apple during the first quarter worth $99,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $262.82 on Friday. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $265.29. The business has a 50-day moving average of $244.15 and a two-hundred day moving average of $219.51. The stock has a market capitalization of $3.90 trillion, a P/E ratio of 39.88, a P/E/G ratio of 2.56 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.

Apple (NASDAQ:AAPL) last announced 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. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. 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 payout ratio is currently 15.78%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AAPL. Bank of America boosted their target price on Apple from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. HSBC set a $220.00 price target on Apple and gave the company a “hold” rating in a report on Monday, September 8th. DA Davidson reiterated a “neutral” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 11th. Wells Fargo & Company lifted their price target on Apple from $245.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Finally, The Goldman Sachs Group set a $279.00 price target on Apple and gave the company a “buy” rating in a report on Tuesday. Four research 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.47.

Insiders Place Their Bets

In other 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 transaction of $33,375,798.03. Following the completion of the transaction, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 259,121 shares of company stock worth $65,358,981 over the last quarter. 0.06% of the stock is currently owned by company 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.