Cox Capital Mgt LLC Sells 95 Shares of Apple Inc. (NASDAQ:AAPL)

Cox Capital Mgt LLC decreased its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 23,257 shares of the iPhone maker’s stock after selling 95 shares during the quarter. Apple makes up about 2.2% of Cox Capital Mgt LLC’s investment portfolio, making the stock its 12th biggest position. Cox Capital Mgt LLC’s holdings in Apple were worth $3,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Foundations Investment Advisors LLC increased its position in Apple by 70.7% in the 2nd quarter. Foundations Investment Advisors LLC now owns 112,402 shares of the iPhone maker’s stock valued at $16,065,000 after acquiring an additional 46,554 shares during the period. Green Alpha Advisors LLC increased its position in shares of Apple by 273.0% during the second quarter. Green Alpha Advisors LLC now owns 40,747 shares of the iPhone maker’s stock worth $5,571,000 after buying an additional 29,823 shares during the period. Legacy Private Trust Co. grew its holdings in Apple by 2.9% in the second quarter. Legacy Private Trust Co. now owns 210,536 shares of the iPhone maker’s stock worth $28,784,000 after purchasing an additional 5,897 shares during the period. Astoria Portfolio Advisors LLC. grew its holdings in Apple by 110.9% in the second quarter. Astoria Portfolio Advisors LLC. now owns 25,290 shares of the iPhone maker’s stock worth $3,458,000 after purchasing an additional 13,301 shares during the period. Finally, Hoffman Alan N Investment Management grew its holdings in Apple by 0.4% in the second quarter. Hoffman Alan N Investment Management now owns 592,726 shares of the iPhone maker’s stock worth $81,037,000 after purchasing an additional 2,377 shares during the period. Institutional investors own 57.72% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $150.70 on Monday. The firm has a market cap of $2.42 trillion, a P/E ratio of 24.87, a P/E/G ratio of 1.95 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 Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The stock’s fifty day moving average price is $159.65 and its 200-day moving average price is $156.02.

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

Apple Announces Dividend

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

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now directly 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. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. KeyCorp raised their price target on shares of Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 19th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $139.00 target price on shares of Apple in a research note on Thursday, September 8th. Sanford C. Bernstein set a $170.00 price objective on shares of Apple in a research note on Monday, September 12th. UBS Group set a $185.00 target price on shares of Apple in a research report on Wednesday, September 14th. Finally, Loop Capital lowered their price objective on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, May 25th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average price target of $181.52.

Apple Company Profile

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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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