Mainsail Asset Management LLC Has $4.21 Million Holdings in Apple Inc. $AAPL

Mainsail Asset Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,520 shares of the iPhone maker’s stock after selling 50 shares during the quarter. Apple accounts for about 2.6% of Mainsail Asset Management LLC’s investment portfolio, making the stock its 6th biggest holding. Mainsail Asset Management LLC’s holdings in Apple were worth $4,210,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Salus Financial Advisors LLC raised its stake in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares in the last quarter. Red Tortoise LLC lifted its position in Apple by 0.9% during the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after acquiring an additional 49 shares during the last quarter. SigFig Wealth Management LLC increased its stake in shares of Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after purchasing an additional 50 shares during the period. Sharpepoint LLC boosted its stake in Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after purchasing an additional 51 shares during the period. Finally, Redwood Financial Network Corp boosted its position in shares of Apple by 0.6% in the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after acquiring an additional 53 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction 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. The trade was a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction 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 transaction, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 0.4%

Shares of NASDAQ AAPL opened at $270.37 on Friday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $277.32. The company has a market cap of $4.01 trillion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The firm’s 50-day simple moving average is $248.34 and its 200 day simple moving average is $222.01.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same period in the prior year, the business earned $1.64 earnings per share. Apple’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be paid 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 is Monday, November 10th. Apple’s dividend payout ratio is 15.78%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AAPL shares. CLSA upgraded Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Sanford C. Bernstein reiterated an “outperform” rating and set a $290.00 price target on shares of Apple in a research note on Wednesday. Wells Fargo & Company set a $300.00 price target on shares of Apple and gave the company an “overweight” rating in a report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of Apple in a research report on Wednesday, October 8th. Finally, Tigress Financial increased their target price on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.39.

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.