Apple Inc. (NASDAQ:AAPL) Stock Position Cut by Worth Asset Management LLC

Worth Asset Management LLC cut its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,234 shares of the iPhone maker’s stock after selling 284 shares during the period. Apple makes up approximately 2.0% of Worth Asset Management LLC’s investment portfolio, making the stock its 11th biggest position. Worth Asset Management LLC’s holdings in Apple were worth $2,903,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Qube Research & Technologies Ltd increased its stake in Apple by 145.8% in the 4th quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock worth $114,214,000 after purchasing an additional 381,507 shares in the last quarter. Oxbow Advisors LLC raised its holdings in shares of Apple by 1.8% during the fourth quarter. Oxbow Advisors LLC now owns 205,181 shares of the iPhone maker’s stock valued at $36,434,000 after acquiring an additional 3,725 shares during the period. Dana Investment Advisors Inc. lifted its position in shares of Apple by 2.1% in the 4th quarter. Dana Investment Advisors Inc. now owns 516,555 shares of the iPhone maker’s stock valued at $91,725,000 after acquiring an additional 10,549 shares in the last quarter. Udine Wealth Management Inc. acquired a new position in Apple in the 4th quarter worth approximately $19,556,000. Finally, Retirement Group LLC grew its position in Apple by 23.8% during the 4th quarter. Retirement Group LLC now owns 7,974 shares of the iPhone maker’s stock worth $1,416,000 after purchasing an additional 1,533 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $154.48 on Tuesday. Apple Inc. has a 12 month low of $129.04 and a 12 month high of $182.94. The company has a market cap of $2.48 trillion, a P/E ratio of 25.49, a P/E/G ratio of 1.95 and a beta of 1.23. The business’s 50 day moving average is $159.65 and its two-hundred day moving average is $155.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders 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 0.60%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Rosenblatt Securities decreased their target price on Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Morgan Stanley lowered their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Fundamental Research set a $177.07 target price on shares of Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Itaú Unibanco started coverage on shares of Apple in a report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Finally, JPMorgan Chase & Co. set a $200.00 price objective on Apple in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $181.52.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’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 completion of the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Apple news, CFO Luca Maestri sold 96,735 shares of Apple stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on 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 completion of 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 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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