Apple Inc. $AAPL Shares Sold by Chesapeake Wealth Management

Chesapeake Wealth Management cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,232 shares of the iPhone maker’s stock after selling 287 shares during the quarter. Apple accounts for about 3.2% of Chesapeake Wealth Management’s portfolio, making the stock its 4th biggest holding. Chesapeake Wealth Management’s holdings in Apple were worth $9,691,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AAPL. Ryan Investment Management Inc. acquired a new position in Apple during the second quarter worth $31,000. ROSS JOHNSON & Associates LLC lifted its position in 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 buying an additional 180 shares in the last quarter. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth about $65,000. Elite Financial Inc. bought a new position in shares of Apple in the 1st quarter valued at about $58,000. Finally, HFM Investment Advisors LLC acquired a new stake in shares of Apple in the first quarter valued at about $99,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction on Thursday, October 2nd. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. The trade was a 23.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 228,052 shares of company stock worth $58,604,588 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Jefferies Financial Group raised Apple from an “underperform” rating to a “hold” rating and increased their price target for the company from $203.07 to $246.99 in a research report on Friday, October 31st. BMO Capital Markets reissued a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Seaport Res Ptn raised shares of Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Argus set a $325.00 price target on shares of Apple and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, CLSA upgraded shares of Apple to a “strong-buy” rating in a research note on Sunday, October 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.22.

Apple Stock Performance

NASDAQ AAPL opened at $273.33 on Thursday. The stock has a market cap of $4.04 trillion, a PE ratio of 41.48, a P/E/G ratio of 2.62 and a beta of 1.08. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The firm has a 50-day moving average of $254.61 and a 200-day moving average of $226.08. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $277.32.

Apple (NASDAQ:AAPL) last announced its quarterly 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 analyst estimates of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is 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.