Apple Inc. $AAPL Shares Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 151,743 shares of the iPhone maker’s stock after selling 2,840 shares during the quarter. Apple accounts for 3.7% of Cabot Wealth Management Inc.’s holdings, making the stock its biggest position. Cabot Wealth Management Inc.’s holdings in Apple were worth $31,133,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ryan Investment Management Inc. bought a new stake in Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC raised its stake in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the period. Nexus Investment Management ULC lifted its holdings in shares of Apple by 333.3% in the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after purchasing an additional 200 shares in the last quarter. Elite Financial Inc. bought a new stake in shares of Apple in the first quarter valued at about $58,000. Finally, LSV Asset Management acquired a new position in shares of Apple during the fourth quarter worth about $65,000. Institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% 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 hyperlink. Also, insider Chris Kondo sold 3,752 shares of the stock in a transaction dated 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 transaction, the insider directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 228,052 shares of company stock worth $58,604,588 in the last quarter. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Moffett Nathanson upgraded Apple from a “sell” rating to a “neutral” rating and set a $225.00 price objective for the company in a report on Thursday, September 4th. The Goldman Sachs Group raised their price target on shares of Apple from $279.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Melius Research set a $345.00 price objective on shares of Apple in a report on Friday, October 31st. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $226.00 to $315.00 in a research report on Monday, October 20th. Finally, Rosenblatt Securities increased their target price on shares of Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. 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 assigned a Sell rating to the company. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $278.22.

Apple Stock Up 0.2%

Apple stock opened at $277.55 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The company’s 50-day moving average is $261.82 and its 200-day moving average is $230.80. The firm has a market capitalization of $4.10 trillion, a PE ratio of 42.12, a P/E/G ratio of 2.62 and a beta of 1.09. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $280.38.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors 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 dividend yield of 0.4%. Apple’s payout ratio is presently 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.