Apple Inc. (NASDAQ:AAPL) Shares Sold by BTR Capital Management Inc.

BTR Capital Management Inc. lessened its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 1.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 249,514 shares of the iPhone maker’s stock after selling 3,376 shares during the period. Apple makes up approximately 4.9% of BTR Capital Management Inc.’s investment portfolio, making the stock its 2nd largest position. BTR Capital Management Inc.’s holdings in Apple were worth $34,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cardinal Capital Management Inc. increased its position in 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 purchasing an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new stake in Apple during the 4th quarter worth about $41,000. CFS Investment Advisory Services LLC increased its position in Apple by 18,263.5% during the 1st quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after purchasing an additional 7,416,445 shares in the last quarter. Spence Asset Management purchased a new stake in Apple during the 2nd quarter worth about $49,000. Finally, HBC Financial Services PLLC increased its position in Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Stock Performance

Apple stock opened at $152.74 on Friday. The stock’s 50 day moving average price is $160.31 and its 200 day moving average price is $155.83. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The firm has a market capitalization of $2.45 trillion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.

Apple (NASDAQ:AAPLGet Rating) last announced 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. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion for the quarter, compared to analyst estimates of $82.97 billion. During the same period in the prior year, the company posted $1.30 EPS. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is 15.18%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Sanford C. Bernstein set a $170.00 price objective on Apple in a research report on Monday, September 12th. Wells Fargo & Company lowered their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Oppenheimer restated an “outperform” rating and issued a $190.00 price target on shares of Apple in a report on Wednesday, June 8th. set a $175.00 price target on Apple in a report on Friday, July 29th. Finally, Barclays set a $169.00 price target on Apple in a report on Wednesday, September 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average target price of $181.68.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction that occurred 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 sale, 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. 0.06% of the stock is currently owned by corporate insiders.

About Apple

(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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