Apple Inc. $AAPL is Callahan Advisors LLC’s 6th Largest Position

Callahan Advisors LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 7.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 150,224 shares of the iPhone maker’s stock after selling 12,432 shares during the period. Apple makes up 2.8% of Callahan Advisors LLC’s investment portfolio, making the stock its 6th largest holding. Callahan Advisors LLC’s holdings in Apple were worth $30,821,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Uptick Partners LLC raised its position in Apple by 43.7% during the 2nd quarter. Uptick Partners LLC now owns 22,794 shares of the iPhone maker’s stock worth $4,677,000 after buying an additional 6,934 shares during the last quarter. Nexus Investment Management ULC increased its stake in shares of Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after acquiring an additional 200 shares during the period. Rheos Capital Works Inc. raised its holdings in Apple by 16.0% during the second quarter. Rheos Capital Works Inc. now owns 101,500 shares of the iPhone maker’s stock worth $20,825,000 after purchasing an additional 14,000 shares in the last quarter. Duncker Streett & Co. Inc. lifted its position in Apple by 2.4% in the second quarter. Duncker Streett & Co. Inc. now owns 81,217 shares of the iPhone maker’s stock valued at $16,663,000 after purchasing an additional 1,907 shares during the period. Finally, Mission Hills Financial Advisory LLC lifted its position in Apple by 72.8% in the second quarter. Mission Hills Financial Advisory LLC now owns 6,938 shares of the iPhone maker’s stock valued at $1,423,000 after purchasing an additional 2,922 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $272.95 on Friday. The business has a 50-day moving average of $255.27 and a two-hundred day moving average of $226.41. The firm has a market capitalization of $4.03 trillion, a PE ratio of 41.42, 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 current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32.

Apple (NASDAQ:AAPL) last issued its 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. The business 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 company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 EPS. As a group, research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 13.92%.

Insiders Place Their Bets

In related 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 value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the business’s stock in a transaction dated 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 approximately $35,181,866.93. This represents a 23.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 228,052 shares of company stock worth $58,604,588. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on AAPL. Evercore ISI boosted their target price on Apple from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Cowen reaffirmed a “buy” rating on shares of Apple in a report on Monday, October 27th. Melius increased their price objective on Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a report on Friday, August 1st. Finally, Tigress Financial upped their price target on shares of Apple from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 17th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.