Beech Hill Advisors Inc. Sells 8,662 Shares of Apple Inc. (NASDAQ:AAPL)

Beech Hill Advisors Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 11.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,425 shares of the iPhone maker’s stock after selling 8,662 shares during the quarter. Apple accounts for 4.9% of Beech Hill Advisors Inc.’s holdings, making the stock its biggest position. Beech Hill Advisors Inc.’s holdings in Apple were worth $9,082,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Donald L. Hagan LLC raised its stake in shares of Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock valued at $3,181,000 after acquiring an additional 61 shares during the period. Goodwin Daniel L raised its stake in shares of Apple by 0.5% in the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after acquiring an additional 62 shares during the period. Opus Capital Group LLC raised its stake in shares of Apple by 0.3% in the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 63 shares during the period. Norwood Financial Corp raised its stake in shares of Apple by 0.9% in the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after acquiring an additional 65 shares during the period. Finally, Investors Research Corp raised its stake in shares of Apple by 0.4% in the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock valued at $2,814,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. set a $200.00 price target on shares of Apple in a research note on Monday, September 12th. Deutsche Bank Aktiengesellschaft set a $175.00 price target on shares of Apple in a research note on Monday, August 1st. Credit Suisse Group set a $201.00 price objective on shares of Apple in a report on Thursday, September 8th. Wells Fargo & Company dropped their price objective on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Finally, Evercore ISI lifted their price objective on shares of Apple from $185.00 to $190.00 and gave the company an “outperform” rating in a report on Tuesday. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $181.68.

Apple Stock Up 1.6 %

Shares of NASDAQ:AAPL opened at $156.90 on Wednesday. The company has a market capitalization of $2.52 trillion, a PE ratio of 25.89, 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 twelve month low of $129.04 and a twelve month high of $182.94. The firm has a 50 day simple moving average of $159.84 and a 200-day simple moving average of $155.88.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during 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%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS. On average, equities analysts predict that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.59%. Apple’s dividend payout ratio (DPR) is 15.18%.

Insider Activity at Apple

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