L. Roy Papp & Associates LLP Sells 1,651 Shares of Apple Inc. $AAPL

L. Roy Papp & Associates LLP trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 240,877 shares of the iPhone maker’s stock after selling 1,651 shares during the period. Apple makes up about 5.9% of L. Roy Papp & Associates LLP’s holdings, making the stock its 2nd largest holding. L. Roy Papp & Associates LLP’s holdings in Apple were worth $49,421,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AAPL. Kingstone Capital Partners Texas LLC raised its stake in shares of Apple by 573,627.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock valued at $39,065,374,000 after acquiring an additional 205,656,808 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Apple in the first quarter valued at $17,472,482,000. Northern Trust Corp raised its stake in shares of Apple by 13.3% in the fourth quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker’s stock valued at $42,918,365,000 after acquiring an additional 20,079,472 shares in the last quarter. Amundi raised its stake in shares of Apple by 27.4% in the first quarter. Amundi now owns 68,190,569 shares of the iPhone maker’s stock valued at $13,870,795,000 after acquiring an additional 14,651,321 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Apple by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker’s stock valued at $26,220,566,000 after acquiring an additional 13,137,968 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $270.14 on Thursday. 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 Inc. has a 52-week low of $169.21 and a 52-week high of $277.32. The business’s 50-day moving average price is $250.78 and its 200 day moving average price is $223.70. The firm has a market cap of $4.01 trillion, a P/E ratio of 40.99, a P/E/G ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last released its quarterly earnings results 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 return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same quarter last year, the company posted $1.64 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 7.28 earnings per share for the current 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 given a dividend of $0.26 per share. The ex-dividend date is Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is presently 13.92%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction that occurred 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 owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s 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 transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. The trade was a 23.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over 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.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on AAPL shares. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Bank of America increased their target price on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Robert W. Baird set a $300.00 target price on Apple in a report on Friday, October 31st. Moffett Nathanson raised Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a report on Thursday, September 4th. Finally, Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating and increased their target price for the company from $203.07 to $246.99 in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.22.

Apple Company Profile

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.