Carret Asset Management LLC Sells 10,012 Shares of Apple Inc. $AAPL

Carret Asset Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 324,469 shares of the iPhone maker’s stock after selling 10,012 shares during the quarter. Apple accounts for about 7.1% of Carret Asset Management LLC’s investment portfolio, making the stock its largest holding. Carret Asset Management LLC’s holdings in Apple were worth $66,571,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in AAPL. Baker Boyer National Bank boosted its stake in shares of Apple by 0.3% during the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock valued at $3,695,000 after buying an additional 47 shares during the period. Salus Financial Advisors LLC raised its holdings in shares of Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after acquiring an additional 49 shares in the last quarter. Red Tortoise LLC boosted its position in Apple by 0.9% during the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after purchasing an additional 49 shares during the last quarter. SigFig Wealth Management LLC boosted its position in Apple by 2.8% during the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after purchasing an additional 50 shares during the last quarter. Finally, Shariaportfolio Inc. grew its stake 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 purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ AAPL opened at $278.63 on Monday. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $280.38. The company has a fifty day simple moving average of $263.27 and a 200 day simple moving average of $231.86. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company has a market cap of $4.12 trillion, a P/E ratio of 42.28, a P/E/G ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The firm had revenue of $102.47 billion during 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%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 EPS. On average, sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

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

Insider Transactions at Apple

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of Apple stock in a transaction that occurred 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 of the company’s stock, valued at $35,181,866.93. The trade was a 23.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 228,052 shares of company stock worth $58,604,588. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. DA Davidson raised their price target on Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research report on Wednesday, August 13th. Seaport Res Ptn upgraded shares of Apple to a “strong-buy” rating in a research note on Wednesday, October 1st. DZ Bank upgraded shares of Apple from a “hold” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company set a $300.00 price target on shares of Apple and gave the company an “overweight” rating in a report on Friday, October 31st. Three analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Apple 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.