Apple Inc. $AAPL Holdings Lowered by Hager Investment Management Services LLC

Hager Investment Management Services LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 2.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,020 shares of the iPhone maker’s stock after selling 752 shares during the quarter. Apple makes up 4.4% of Hager Investment Management Services LLC’s holdings, making the stock its 4th largest position. Hager Investment Management Services LLC’s holdings in Apple were worth $7,390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. InTrack Investment Management Inc boosted its stake in shares of Apple by 11.4% in the second quarter. InTrack Investment Management Inc now owns 24,052 shares of the iPhone maker’s stock worth $4,935,000 after buying an additional 2,457 shares during the last quarter. Trifecta Capital Advisors LLC boosted its stake in shares of Apple by 12.7% in the second quarter. Trifecta Capital Advisors LLC now owns 127,884 shares of the iPhone maker’s stock worth $26,238,000 after buying an additional 14,438 shares during the last quarter. Windle Wealth LLC boosted its stake in shares of Apple by 5.5% in the second quarter. Windle Wealth LLC now owns 43,016 shares of the iPhone maker’s stock worth $8,826,000 after buying an additional 2,239 shares during the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Apple by 3.5% in the second quarter. Maryland State Retirement & Pension System now owns 714,491 shares of the iPhone maker’s stock worth $146,592,000 after buying an additional 23,853 shares during the last quarter. Finally, Optas LLC boosted its stake in shares of Apple by 3.5% in the second quarter. Optas LLC now owns 77,968 shares of the iPhone maker’s stock worth $15,997,000 after buying an additional 2,665 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 259,121 shares of company stock worth $65,358,981 over the last three months. 0.06% of the stock is owned by insiders.

Apple Price Performance

Shares of Apple stock opened at $270.37 on Monday. The business has a 50 day simple moving average of $248.34 and a two-hundred day simple moving average of $222.34. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32. The stock has a market capitalization of $4.01 trillion, a P/E ratio of 41.03, a PEG ratio of 2.62 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 earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 13.92%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Monness Crespi & Hardt upped their target price on Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday. Tigress Financial upped their target price on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Cowen restated a “buy” rating on shares of Apple in a research note on Monday, October 27th. Melius Research set a $345.00 price target on Apple in a report on Friday. Finally, Citigroup reaffirmed a “buy” rating and issued a $315.00 price target (up previously from $245.00) on shares of Apple in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $276.39.

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.