Apple Inc. $AAPL Shares Sold by Cohen Investment Advisors LLC

Cohen Investment Advisors LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,623 shares of the iPhone maker’s stock after selling 1,134 shares during the period. Apple makes up about 4.7% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. Cohen Investment Advisors LLC’s holdings in Apple were worth $8,950,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AAPL. Avid Wealth Partners LLC grew its stake in shares of Apple by 28.3% during the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after acquiring an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC grew its stake in shares of Apple by 0.4% during the first quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after acquiring an additional 240 shares in the last quarter. American National Bank & Trust grew its stake in shares of Apple by 2.4% during the second quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after acquiring an additional 4,543 shares in the last quarter. Andina Capital Management LLC grew its stake in shares of Apple by 209.2% during the first quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock valued at $1,507,000 after acquiring an additional 4,591 shares in the last quarter. Finally, Plum Street Advisors LLC grew its stake in shares of Apple by 4.0% during the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock valued at $1,752,000 after acquiring an additional 301 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the transaction, the chief financial officer owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction 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 transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 259,121 shares of company stock valued at $65,358,981 over the last three months. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of research reports. Rosenblatt Securities lifted their price target on Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday. Cowen reissued a “buy” rating on shares of Apple in a research note on Monday, October 27th. Raymond James Financial reissued an “outperform” rating and set a $240.00 target price (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating and upped their price target for the company from $203.07 to $246.99 in a report on Friday. Finally, CLSA raised Apple to a “strong-buy” rating in a report on Sunday, October 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $276.39.

Apple Trading Down 0.4%

Shares of NASDAQ:AAPL opened at $270.37 on Monday. The stock has a market capitalization of $4.01 trillion, a PE ratio of 41.03, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $277.32. The firm has a fifty day moving average price of $248.34 and a 200 day moving average price of $222.34. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data 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 firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same period in the prior year, the company posted $1.64 earnings per share. Apple’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared 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. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio is 13.92%.

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.