Apple Inc. $AAPL is Dock Street Asset Management Inc.’s 10th Largest Position

Dock Street Asset Management Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 18.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,847 shares of the iPhone maker’s stock after selling 41,334 shares during the period. Apple makes up approximately 3.5% of Dock Street Asset Management Inc.’s portfolio, making the stock its 10th largest position. Dock Street Asset Management Inc.’s holdings in Apple were worth $37,720,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AAPL. Ryan Investment Management Inc. acquired a new stake in shares of Apple in the second quarter valued at about $31,000. ROSS JOHNSON & Associates LLC lifted 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 valued at $42,000 after acquiring an additional 180 shares during the period. Elite Financial Inc. purchased a new stake in shares of Apple during the 1st quarter worth approximately $58,000. LSV Asset Management purchased a new stake in shares of Apple during the 4th quarter worth approximately $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in shares of Apple in the 1st quarter worth approximately $99,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Tigress Financial boosted their target price on Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 17th. Rosenblatt Securities boosted their price objective on shares of Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Loop Capital upgraded shares of Apple from a “hold” rating to a “buy” rating and raised their target price for the company from $226.00 to $315.00 in a report on Monday, October 20th. Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price for the company. in a research report on Thursday, September 11th. Finally, Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $278.22.

Apple Trading Down 0.7%

Shares of AAPL opened at $273.33 on Thursday. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The firm has a market capitalization of $4.04 trillion, a P/E ratio of 41.48, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. 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 stock’s fifty day simple moving average is $254.61 and its 200 day simple moving average is $226.08.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for 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 business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 EPS. On average, equities research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm 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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio (DPR) is 13.92%.

Insider Activity at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction that occurred 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 approximately $2,168,373.35. This represents a 32.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the transaction, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 228,052 shares of company stock worth $58,604,588 over the last ninety days. 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.