Apple Inc. $AAPL Stock Position Reduced by Hutchinson Capital Management CA

Hutchinson Capital Management CA trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,924 shares of the iPhone maker’s stock after selling 1,144 shares during the period. Apple accounts for about 4.5% of Hutchinson Capital Management CA’s holdings, making the stock its 6th largest holding. Hutchinson Capital Management CA’s holdings in Apple were worth $24,605,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Baker Boyer National Bank increased its stake in Apple by 0.3% in the second quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock valued at $3,695,000 after purchasing an additional 47 shares during the last quarter. Salus Financial Advisors LLC boosted its holdings in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after buying an additional 49 shares in the last quarter. Red Tortoise LLC grew its position in shares of Apple by 0.9% in the 2nd 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 last quarter. SigFig Wealth Management LLC raised its stake in Apple by 2.8% during the 2nd quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after acquiring an additional 50 shares in the last quarter. Finally, Shariaportfolio Inc. lifted its position in Apple by 1.3% in the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the completion of the transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. This represents a 32.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of Apple 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 owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 228,052 shares of company stock valued at $58,604,588 over the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $278.63 on Monday. Apple Inc. has a 12 month low of $169.21 and a 12 month 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. The business has a 50 day simple moving average of $263.27 and a 200-day simple moving average of $231.86. The stock has a market capitalization of $4.12 trillion, a PE ratio of 42.28, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09.

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 analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion for the quarter, compared to analyst estimates of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. Apple’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $1.64 EPS. Equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared 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. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio is currently 13.92%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Robert W. Baird set a $300.00 price objective on Apple in a report on Friday, October 31st. Evercore ISI raised their price target on Apple from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. The Goldman Sachs Group boosted their price objective on Apple from $279.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Moffett Nathanson raised 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. Finally, Melius Research set a $345.00 target price on shares of Apple in a report on Friday, October 31st. Three 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.22.

Apple 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.