Apple Inc. $AAPL Stock Holdings Lessened by Gallagher Capital Advisors LLC

Gallagher Capital Advisors LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 40.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,494 shares of the iPhone maker’s stock after selling 12,670 shares during the quarter. Apple makes up approximately 3.1% of Gallagher Capital Advisors LLC’s holdings, making the stock its 10th largest holding. Gallagher Capital Advisors LLC’s holdings in Apple were worth $3,929,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First National Bank of Hutchinson boosted its position in Apple by 24.6% during the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker’s stock worth $8,845,000 after acquiring an additional 6,982 shares during the last quarter. Eagle Capital Management LLC boosted its holdings in shares of Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock worth $13,544,000 after purchasing an additional 272 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker’s stock worth $134,554,000 after purchasing an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Apple by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock valued at $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE increased its stake in Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after purchasing an additional 1,155 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on AAPL. Tigress Financial lifted their price target on Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Wedbush reissued an “outperform” rating on shares of Apple in a research report on Tuesday, October 21st. Citigroup reaffirmed a “buy” rating and set a $315.00 price target (up previously from $245.00) on shares of Apple in a research report on Friday, October 31st. CLSA upgraded shares of Apple to a “strong-buy” rating in a report on Sunday, October 5th. Finally, Phillip Securities cut shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price objective for the company. in a research note on Thursday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.22.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of the business’s 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 transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their position. The SEC filing for this sale provides additional information. 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.

Apple Price Performance

AAPL opened at $271.49 on Monday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $277.32. The company has a 50 day moving average of $259.49 and a two-hundred day moving average of $229.36. The company has a market cap of $4.01 trillion, a P/E ratio of 41.20, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share 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 business 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 business posted $1.64 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were paid a $0.26 dividend. The ex-dividend date was 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%.

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.