Cadinha & Co. LLC Decreases Stake in Apple Inc. $AAPL

Cadinha & Co. LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,722 shares of the iPhone maker’s stock after selling 1,168 shares during the quarter. Apple makes up approximately 0.7% of Cadinha & Co. LLC’s portfolio, making the stock its 26th largest holding. Cadinha & Co. LLC’s holdings in Apple were worth $4,252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. First National Bank of Hutchinson lifted its position in shares of 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 in the last quarter. Eagle Capital Management LLC raised its stake in shares of Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker’s stock valued at $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC lifted its holdings in Apple by 14.8% during the 4th 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 in the last quarter. Revolve Wealth Partners LLC boosted its stake in Apple by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker’s stock worth $16,742,000 after purchasing an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker’s stock valued at $12,587,000 after buying an additional 1,155 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Up 2.0%

Shares of NASDAQ: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 firm has a fifty day moving average of $259.49 and a 200 day moving average of $229.36. The firm has a market capitalization of $4.01 trillion, a PE ratio of 41.20, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. During the same quarter last year, the business posted $1.64 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. DA Davidson increased their price target on shares of Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Apple in a research note on Wednesday. Robert W. Baird set a $300.00 price target on shares of Apple in a report on Friday, October 31st. Barclays upped their price target on shares of Apple from $180.00 to $230.00 and gave the stock an “underweight” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company set a $300.00 price objective on Apple and gave the company an “overweight” rating in a research note on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $278.22.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were 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. The trade was a 3.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction on 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 transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 228,052 shares of company stock valued at $58,604,588 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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.