Mullooly Asset Management Inc. Sells 373 Shares of Apple Inc. $AAPL

Mullooly Asset Management Inc. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,974 shares of the iPhone maker’s stock after selling 373 shares during the quarter. Apple comprises 0.4% of Mullooly Asset Management Inc.’s holdings, making the stock its 18th largest holding. Mullooly Asset Management Inc.’s holdings in Apple were worth $1,021,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. First National Bank of Hutchinson increased its position in shares of Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares in the last quarter. Eagle Capital Management LLC increased its position in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC increased its position in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after acquiring an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after acquiring an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE increased its position in shares of Apple by 2.4% during the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock worth $12,587,000 after acquiring an additional 1,155 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction dated 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 sale, the chief executive officer 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 259,121 shares of company stock worth $65,358,981. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 0.4%

Apple stock opened at $270.37 on Monday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The firm has a 50 day moving average price of $248.34 and a 200-day moving average price of $222.34. The company has a market capitalization of $4.01 trillion, a P/E ratio of 41.03, a P/E/G 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.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS. As a group, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors 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 yield of 0.4%. Apple’s dividend payout ratio is 13.92%.

Analysts Set New Price Targets

Several research firms have recently commented on AAPL. The Goldman Sachs Group boosted their target price on shares of Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday. Barclays boosted their target price on shares of Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday. CLSA raised shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. HSBC set a $220.00 target price on shares of Apple and gave the stock a “hold” rating in a research report on Monday, September 8th. Finally, Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a research report on Thursday, September 4th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.