Dnca Finance Sells 38,896 Shares of Apple Inc. $AAPL

Dnca Finance reduced its position in Apple Inc. (NASDAQ:AAPL) by 28.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,904 shares of the iPhone maker’s stock after selling 38,896 shares during the quarter. Apple comprises about 1.5% of Dnca Finance’s portfolio, making the stock its 22nd largest position. Dnca Finance’s holdings in Apple were worth $19,677,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ryan Investment Management Inc. bought a new stake in Apple during the second quarter worth $31,000. ROSS JOHNSON & Associates LLC raised its holdings 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 buying an additional 180 shares in the last quarter. Nexus Investment Management ULC raised its holdings in shares of Apple by 333.3% during the 2nd quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock worth $53,000 after buying an additional 200 shares in the last quarter. Elite Financial Inc. acquired a new stake in Apple in the first quarter valued at about $58,000. Finally, LSV Asset Management bought a new position in Apple in the fourth quarter valued at about $65,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 228,052 shares of company stock worth $58,604,588. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Down 0.3%

Shares of AAPL opened at $278.03 on Friday. The stock’s 50-day moving average price is $267.83 and its two-hundred day moving average price is $236.19. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $288.62. The company has a market capitalization of $4.11 trillion, a PE ratio of 37.22, a PEG ratio of 2.61 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results 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. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 earnings per share. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s payout ratio is 13.92%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AAPL shares. Cowen reissued a “buy” rating on shares of Apple in a report on Monday, October 27th. Evercore ISI restated an “outperform” rating and issued a $325.00 target price (up previously from $300.00) on shares of Apple in a research report on Monday. Phillip Securities downgraded shares of Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 price target for the company. in a report on Thursday, September 11th. DZ Bank raised Apple from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 4th. Finally, Citigroup restated a “buy” rating and set a $330.00 price objective (up previously from $315.00) on shares of Apple in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $282.51.

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.