Apple Inc. $AAPL Stock Holdings Lowered by Connors Investor Services Inc.

Connors Investor Services Inc. reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 174,136 shares of the iPhone maker’s stock after selling 3,178 shares during the period. Apple comprises approximately 3.2% of Connors Investor Services Inc.’s holdings, making the stock its 3rd largest position. Connors Investor Services Inc.’s holdings in Apple were worth $35,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ryan Investment Management Inc. bought a new stake in Apple in the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC boosted its holdings 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 last quarter. Nexus Investment Management ULC boosted its holdings in shares of Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after acquiring an additional 200 shares during the last quarter. Elite Financial Inc. bought a new stake in shares of Apple in the first quarter worth approximately $58,000. Finally, LSV Asset Management purchased a new position in shares of Apple during the fourth quarter valued at approximately $65,000. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AAPL shares. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Rosenblatt Securities raised their price target on Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Wall Street Zen cut Apple from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Barclays boosted their price target on Apple from $180.00 to $230.00 and gave the company an “underweight” rating in a research note on Friday, October 31st. Finally, Sanford C. Bernstein set a $325.00 price objective on shares of Apple in a research note on Monday, November 3rd. Three 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.22.

Apple Price Performance

NASDAQ AAPL opened at $271.49 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $277.32. The stock has a market cap of $4.01 trillion, a price-to-earnings ratio of 41.20, a PEG ratio of 2.62 and a beta of 1.09. The company’s 50 day moving average is $259.49 and its two-hundred day moving average is $229.36.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.64 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Insiders Place Their Bets

In other news, CFO Kevan Parekh sold 4,199 shares of the company’s stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the transaction, the chief financial officer owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This represents a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the 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 sale, the senior vice president owned 136,687 shares of the company’s stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 228,052 shares of company stock valued at $58,604,588. 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.