Apple Inc. (NASDAQ:AAPL) Shares Sold by Parsec Financial Management Inc.

Parsec Financial Management Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 785,681 shares of the iPhone maker’s stock after selling 847 shares during the period. Apple makes up 5.2% of Parsec Financial Management Inc.’s portfolio, making the stock its 2nd biggest position. Parsec Financial Management Inc.’s holdings in Apple were worth $107,418,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Cardinal Capital Management Inc. increased its position in Apple by 5,525.0% in the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after purchasing an additional 221 shares during the period. Shore Point Advisors LLC acquired a new position in shares of Apple in the 4th quarter valued at $41,000. CFS Investment Advisory Services LLC boosted its position in shares of Apple by 18,263.5% in the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after purchasing an additional 7,416,445 shares during the last quarter. HBC Financial Services PLLC boosted its holdings in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after buying an additional 80 shares during the last quarter. Finally, Emerson Wealth LLC grew its position in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the period. Institutional investors own 57.72% of the company’s stock.

Insider Buying and Selling

In other news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Apple Trading Down 1.1 %

Shares of AAPL stock opened at $150.70 on Friday. The stock has a 50-day moving average of $159.65 and a 200-day moving average of $156.09. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The stock has a market cap of $2.42 trillion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.97 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is currently 15.18%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Credit Suisse Group set a $201.00 target price on shares of Apple in a report on Thursday, September 8th. Monness Crespi & Hardt assumed coverage on shares of Apple in a research note on Thursday, September 8th. They issued a “buy” rating and a $174.00 price target for the company. Citigroup upped their target price on shares of Apple from $175.00 to $185.00 and gave the company a “buy” rating in a report on Friday, July 29th. Barclays set a $169.00 price target on Apple in a report on Wednesday. Finally, set a $175.00 price objective on shares of Apple in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.52.

Apple Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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