Carrera Capital Advisors Lowers Stock Holdings in Apple Inc. $AAPL

Carrera Capital Advisors reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 22.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,110 shares of the iPhone maker’s stock after selling 2,846 shares during the quarter. Carrera Capital Advisors’ holdings in Apple were worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Baker Boyer National Bank increased its stake in 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 acquiring an additional 47 shares during the last quarter. Salus Financial Advisors LLC grew its holdings 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 worth $291,000 after purchasing an additional 49 shares during the period. Red Tortoise LLC raised its holdings in Apple by 0.9% in the second 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 raised its holdings in Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after buying an additional 50 shares during the period. Finally, Shariaportfolio Inc. lifted its position in Apple by 1.3% during the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after buying an additional 50 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of AAPL stock opened at $276.97 on Wednesday. The firm has a fifty day moving average of $261.05 and a two-hundred day moving average of $230.47. The firm has a market cap of $4.09 trillion, a P/E ratio of 42.03, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a 1-year low of $169.21 and a 1-year high of $280.38. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion for 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 quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last 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 fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders 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 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio (DPR) is presently 13.92%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 3,752 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the sale, the insider owned 15,098 shares in the company, valued at $4,095,030.54. The trade was a 19.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 129,963 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 228,052 shares of company stock worth $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AAPL. Melius upped their price target on shares of Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Apple in a research report on Wednesday, November 19th. Argus set a $325.00 target price on Apple and gave the company a “buy” rating in a research note on Friday, October 31st. DA Davidson boosted their price target on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $278.22.

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.