Freedom Day Solutions LLC Sells 1,992 Shares of Apple Inc. $AAPL

Freedom Day Solutions LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,149 shares of the iPhone maker’s stock after selling 1,992 shares during the period. Apple accounts for approximately 2.1% of Freedom Day Solutions LLC’s portfolio, making the stock its 6th biggest position. Freedom Day Solutions LLC’s holdings in Apple were worth $8,032,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ryan Investment Management Inc. acquired a new position in shares of Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC increased its position in shares of Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. LSV Asset Management purchased a new stake in Apple in the 4th quarter valued at about $65,000. Elite Financial Inc. acquired a new position in Apple in the first quarter valued at about $58,000. Finally, HFM Investment Advisors LLC acquired a new position in Apple in the first quarter valued at about $99,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Down 0.5%

AAPL stock opened at $269.05 on Tuesday. The stock has a market cap of $3.99 trillion, a P/E ratio of 40.83, a PEG ratio of 2.62 and a beta of 1.09. 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 Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The company’s 50 day moving average is $249.17 and its two-hundred day moving average is $222.85.

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, beating analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS. 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s payout ratio is 13.92%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on AAPL shares. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. DA Davidson upped their price target on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday. UBS Group raised their price target on Apple from $220.00 to $280.00 and gave the stock a “neutral” rating in a research report on Friday. Melius lifted their price objective on Apple from $290.00 to $345.00 and gave the company a “buy” rating in a research note on Friday. Finally, Melius Research set a $345.00 price objective on Apple in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.52.

Insider Activity

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction on Thursday, October 2nd. The stock was 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 owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following 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 position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 259,121 shares of company stock valued at $65,358,981. Company insiders own 0.06% of the company’s stock.

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.