Apple Inc. $AAPL Stock Holdings Lowered by Advanced Asset Management Advisors Inc

Advanced Asset Management Advisors Inc decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,287 shares of the iPhone maker’s stock after selling 720 shares during the quarter. Apple accounts for about 2.7% of Advanced Asset Management Advisors Inc’s investment portfolio, making the stock its 13th largest position. Advanced Asset Management Advisors Inc’s holdings in Apple were worth $10,112,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. Salus Financial Advisors LLC increased its stake in Apple by 3.9% in 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 stake in Apple by 0.9% during the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after buying an additional 49 shares in the last quarter. SigFig Wealth Management LLC boosted its holdings 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 buying an additional 50 shares during the period. Shariaportfolio Inc. increased its position in shares of Apple by 1.3% in the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after acquiring an additional 50 shares in the last quarter. Finally, Sharpepoint LLC raised its holdings in shares of Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares in the company, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 259,121 shares of company stock worth $65,358,981. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AAPL. The Goldman Sachs Group raised their price objective on shares of Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a research note on Thursday, September 11th. DA Davidson raised their target price on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target on the stock in a report on Thursday, September 4th. Finally, Sanford C. Bernstein set a $325.00 price target on Apple in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $277.52.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $269.05 on Tuesday. The firm has a market cap of $3.99 trillion, a price-to-earnings ratio of 40.83, 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 company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The business has a fifty day simple moving average of $249.17 and a 200 day simple moving average of $222.85.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.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 firm posted $1.64 EPS. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

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