Apple Inc. (NASDAQ:AAPL) Shares Sold by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp lessened its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 241,004 shares of the iPhone maker’s stock after selling 6,657 shares during the quarter. Apple comprises about 0.8% of CHURCHILL MANAGEMENT Corp’s holdings, making the stock its 15th largest holding. CHURCHILL MANAGEMENT Corp’s holdings in Apple were worth $32,950,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pure Financial Advisors LLC increased its holdings in shares of Apple by 13.2% in the second quarter. Pure Financial Advisors LLC now owns 85,070 shares of the iPhone maker’s stock valued at $11,631,000 after purchasing an additional 9,952 shares during the last quarter. My Personal CFO LLC increased its stake in Apple by 177.1% during the second quarter. My Personal CFO LLC now owns 68,148 shares of the iPhone maker’s stock worth $9,317,000 after acquiring an additional 43,559 shares during the last quarter. ACT Wealth Management LLC increased its stake in Apple by 10.2% during the second quarter. ACT Wealth Management LLC now owns 38,105 shares of the iPhone maker’s stock worth $5,210,000 after acquiring an additional 3,528 shares during the last quarter. Wealth Alliance Advisory Group LLC increased its stake in Apple by 7.4% during the second quarter. Wealth Alliance Advisory Group LLC now owns 47,154 shares of the iPhone maker’s stock worth $6,447,000 after acquiring an additional 3,235 shares during the last quarter. Finally, Taylor & Morgan Wealth Management LLC increased its stake in Apple by 5.8% during the second quarter. Taylor & Morgan Wealth Management LLC now owns 32,654 shares of the iPhone maker’s stock worth $4,464,000 after acquiring an additional 1,780 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley cut their target price on Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Fundamental Research set a $177.07 target price on Apple and gave the stock a “buy” rating in a research note on Thursday, August 4th. set a $175.00 target price on Apple in a research note on Friday, July 29th. Wells Fargo & Company cut their target price on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Finally, Oppenheimer reissued an “outperform” rating and set a $190.00 target price on shares of Apple in a research note on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $181.52.

Insiders Place Their Bets

In other news, 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Stock Up 2.5 %

Shares of NASDAQ AAPL opened at $154.48 on Tuesday. The company has a market capitalization of $2.48 trillion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The business has a 50-day moving average of $159.65 and a two-hundred day moving average of $155.94. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.

Apple Company 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.

See Also

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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