Capital Market Strategies LLC Sells 149 Shares of Apple Inc. (NASDAQ:AAPL)

Capital Market Strategies LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 69,102 shares of the iPhone maker’s stock after selling 149 shares during the period. Apple comprises about 9.9% of Capital Market Strategies LLC’s holdings, making the stock its largest position. Capital Market Strategies LLC’s holdings in Apple were worth $9,448,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AAPL. Elk River Wealth Management LLC grew its holdings in Apple by 49.0% in the 1st quarter. Elk River Wealth Management LLC now owns 167,122 shares of the iPhone maker’s stock worth $29,181,000 after buying an additional 54,989 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Apple by 8.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock worth $13,029,000 after buying an additional 5,703 shares in the last quarter. Piscataqua Savings Bank grew its holdings in Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock worth $8,302,000 after buying an additional 684 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Apple in the 1st quarter worth approximately $171,000. Finally, Chico Wealth RIA bought a new position in Apple in the 1st quarter worth approximately $7,794,000. 57.72% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

AAPL opened at $156.90 on Wednesday. The stock has a fifty day moving average of $159.84 and a 200-day moving average of $155.88. The firm has a market capitalization of $2.52 trillion, a P/E ratio of 25.89, a PEG ratio of 1.95 and a beta of 1.23. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. 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 released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 earnings per share. Equities analysts forecast that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAPL. Fundamental Research set a $177.07 price objective on Apple and gave the stock a “buy” rating in a report on Thursday, August 4th. Citigroup increased their price objective on Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, July 29th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $139.00 price target on shares of Apple in a research note on Thursday, September 8th. Wedbush increased their price target on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. Finally, KeyCorp increased their price target on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, August 19th. 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. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $181.68.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the 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 sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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