Dupont Capital Management Corp Sells 75,161 Shares of Apple Inc. $AAPL

Dupont Capital Management Corp lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 25.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 215,625 shares of the iPhone maker’s stock after selling 75,161 shares during the quarter. Apple accounts for 4.8% of Dupont Capital Management Corp’s portfolio, making the stock its 3rd largest position. Dupont Capital Management Corp’s holdings in Apple were worth $44,240,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AAPL. Baker Boyer National Bank raised its holdings in shares of Apple by 0.3% during the second quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after purchasing an additional 47 shares during the last quarter. Salus Financial Advisors LLC raised its stake in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after buying an additional 49 shares during the last quarter. Red Tortoise LLC lifted its holdings in shares of Apple by 0.9% in the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after buying an additional 49 shares during the period. SigFig Wealth Management LLC boosted its stake in shares of Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after buying an additional 50 shares during the last quarter. Finally, Shariaportfolio Inc. grew its holdings in Apple by 1.3% during the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after acquiring an additional 50 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ:AAPL opened at $266.25 on Friday. The company’s 50-day moving average is $258.74 and its two-hundred day moving average is $228.42. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $277.32. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.93 trillion, a price-to-earnings ratio of 40.40, a PEG ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. During the same quarter in the previous year, the company earned $1.64 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 3,752 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the transaction, the insider directly owned 15,098 shares in the company, valued at approximately $4,095,030.54. This represents a 19.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 228,052 shares of company stock worth $58,604,588. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AAPL shares. Bank of America boosted their price target on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. TD Cowen increased their price target on shares of Apple from $275.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and lifted their price objective for the company from $226.00 to $315.00 in a report on Monday, October 20th. HSBC set a $220.00 price objective on shares of Apple and gave the stock a “hold” rating in a research report on Monday, September 8th. Finally, DZ Bank raised Apple from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 4th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $278.22.

Apple 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.