Hummer Financial Advisory Services Inc Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

Hummer Financial Advisory Services Inc lowered its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,268 shares of the iPhone maker’s stock after selling 100 shares during the period. Hummer Financial Advisory Services Inc’s holdings in Apple were worth $720,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Joseph Group Capital Management purchased a new stake in shares of Apple during the fourth quarter valued at approximately $1,631,000. Cardinal Capital Management Inc. grew its position in shares of Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC acquired a new stake in shares of Apple during the fourth quarter worth approximately $41,000. Spence Asset Management acquired a new stake in shares of Apple during the second quarter worth approximately $49,000. Finally, Emerson Wealth LLC grew its position in shares of Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AAPL shares. set a $175.00 price target on shares of Apple in a research report on Friday, July 29th. Evercore ISI lifted their price objective on shares of Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday. Credit Suisse Group set a $201.00 price objective on shares of Apple in a report on Thursday, September 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 price objective on shares of Apple in a report on Wednesday, June 8th. Finally, Monness Crespi & Hardt assumed coverage on shares of Apple in a report on Thursday, September 8th. They issued a “buy” rating and a $174.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.

Insiders Place Their Bets

In related 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 value of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a document filed 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 completion of the transaction, the senior vice president now directly owns 427,334 shares in the company, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of Apple stock opened at $156.90 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The company’s 50-day moving average price is $159.84 and its two-hundred day moving average price is $155.88. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The stock has a market cap of $2.52 trillion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 1.95 and a beta of 1.23.

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

Apple Announces Dividend

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

Apple 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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