Apple Inc. $AAPL Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 671,133 shares of the iPhone maker’s stock after selling 23,167 shares during the period. Apple accounts for 2.8% of Carnegie Investment Counsel’s portfolio, making the stock its 2nd largest holding. Carnegie Investment Counsel’s holdings in Apple were worth $137,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ryan Investment Management Inc. acquired a new position in Apple during the 2nd quarter worth $31,000. ROSS JOHNSON & Associates LLC lifted its position 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 worth $42,000 after purchasing an additional 180 shares during the last quarter. Nexus Investment Management ULC lifted its holdings 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 buying an additional 200 shares during the last quarter. Elite Financial Inc. bought a new stake in Apple in the 1st quarter valued at $58,000. Finally, LSV Asset Management bought a new stake in Apple in the 4th quarter valued at $65,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. Monness Crespi & Hardt boosted their price target on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 31st. Seaport Res Ptn upgraded Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price for the company in a research report on Thursday, September 4th. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Finally, JPMorgan Chase & Co. increased their price objective on Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $278.22.

Apple Stock Performance

Apple stock opened at $275.92 on Tuesday. The stock has a 50-day simple moving average of $260.27 and a 200 day simple moving average of $229.92. The stock has a market capitalization of $4.08 trillion, a price-to-earnings ratio of 41.87, 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 Inc. has a 12-month low of $169.21 and a 12-month high of $277.32.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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 firm had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. During the same quarter last year, the company posted $1.64 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the completion of the sale, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

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.