New Potomac Partners LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

New Potomac Partners LLC cut its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.7% during the second quarter, HoldingsChannel reports. The firm owned 39,464 shares of the iPhone maker’s stock after selling 291 shares during the period. Apple comprises 4.3% of New Potomac Partners LLC’s investment portfolio, making the stock its 4th biggest position. New Potomac Partners LLC’s holdings in Apple were worth $5,396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Donald L. Hagan LLC lifted its holdings in Apple by 0.3% during the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after buying an additional 61 shares in the last quarter. Goodwin Daniel L raised its position in shares of Apple by 0.5% during 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 last quarter. Opus Capital Group LLC raised its position in shares of Apple by 0.3% during 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 last quarter. Norwood Financial Corp raised its position in shares of Apple by 0.9% during 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 last quarter. Finally, Investors Research Corp raised its position in shares of Apple by 0.4% during 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 last quarter. 57.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Itau BBA Securities assumed coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. Sanford C. Bernstein set a $170.00 target price on shares of Apple in a research report on Monday, September 12th. UBS Group set a $185.00 price objective on shares of Apple in a research report on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a research report on Monday, August 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $181.68.

Apple Stock Down 2.0 %

Apple stock opened at $153.72 on Thursday. The stock has a market cap of $2.47 trillion, a P/E ratio of 25.37, a P/E/G ratio of 2.00 and a beta of 1.23. 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 Inc. has a twelve month low of $129.04 and a twelve month high of $182.94. The company’s 50-day moving average price is $160.23 and its two-hundred day moving average price is $155.88.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders 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 0.60%. Apple’s dividend payout ratio is presently 15.18%.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale 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 the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale 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 the firm’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 transaction of $16,923,788.25. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $19,362,241.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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