Apple Inc. $AAPL Shares Sold by Apollon Financial LLC

Apollon Financial LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,632 shares of the iPhone maker’s stock after selling 4,389 shares during the quarter. Apple comprises approximately 2.7% of Apollon Financial LLC’s portfolio, making the stock its 7th largest holding. Apollon Financial LLC’s holdings in Apple were worth $13,055,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AAPL. Avid Wealth Partners LLC boosted its stake in Apple by 28.3% during the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after purchasing an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC boosted its position 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 worth $13,772,000 after buying an additional 240 shares during the period. American National Bank & Trust grew its holdings in Apple by 2.4% in the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock worth $40,107,000 after buying an additional 4,543 shares in the last quarter. Andina Capital Management LLC grew its holdings in Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after buying an additional 4,591 shares in the last quarter. Finally, Plum Street Advisors LLC increased its position in Apple by 4.0% in the 1st 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 during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AAPL. Melius raised their price target on Apple from $290.00 to $345.00 and gave the company a “buy” rating in a report on Friday, October 31st. Citigroup reiterated a “buy” rating and issued a $315.00 target price (up previously from $245.00) on shares of Apple in a research report on Friday, October 31st. Monness Crespi & Hardt boosted their price target on shares of Apple from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Barclays boosted their target price on Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on Thursday, October 2nd. The shares were 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. The trade was a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 224,300 shares of company stock worth $57,586,933 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Apple Trading Down 0.5%

NASDAQ AAPL opened at $268.47 on Friday. The firm’s 50 day moving average price is $252.25 and its two-hundred day moving average price is $224.54. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The stock has a market cap of $3.98 trillion, a price-to-earnings ratio of 40.74, a PEG ratio of 2.62 and a beta of 1.08.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.64 EPS. Equities analysts anticipate 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. Shareholders of record on Monday, November 10th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio is currently 13.92%.

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.