Stone Asset Management Inc. Sells 3,193 Shares of Apple Inc. (NASDAQ:AAPL)

Stone Asset Management Inc. reduced its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 32.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,639 shares of the iPhone maker’s stock after selling 3,193 shares during the quarter. Apple makes up 0.6% of Stone Asset Management Inc.’s portfolio, making the stock its 29th largest holding. Stone Asset Management Inc.’s holdings in Apple were worth $908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Joseph Group Capital Management acquired a new stake in shares of Apple in the fourth quarter valued at $1,631,000. Cardinal Capital Management Inc. grew its position in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the period. Shore Point Advisors LLC acquired a new position in shares of Apple during the 4th quarter worth about $41,000. Spence Asset Management acquired a new position in shares of Apple during the 2nd quarter worth about $49,000. Finally, Emerson Wealth LLC grew its position in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the period. 57.72% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Apple Trading Down 2.0 %

Shares of AAPL stock opened at $153.72 on Thursday. The stock has a 50-day moving average of $160.23 and a 200-day moving average of $155.88. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.00 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 (NASDAQ:AAPLGet Rating) last released its 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 return on equity of 152.97% and a net margin of 25.71%. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. During the same quarter last year, the firm posted $1.30 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts forecast that Apple Inc. will post 6.11 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. Apple’s dividend payout ratio is presently 15.18%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AAPL. Fundamental Research set a $177.07 target price on Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. The Goldman Sachs Group reiterated a “neutral” rating and set a $139.00 price objective on shares of Apple in a report on Thursday, September 8th. Wedbush lifted their price objective on Apple from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. KeyCorp lifted their price objective on Apple from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 19th. Finally, Sanford C. Bernstein set a $170.00 target price on Apple in a research note on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.68.

Apple Company 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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