Apple Inc. (NASDAQ:AAPL) Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 127,573 shares of the iPhone maker’s stock after selling 3,873 shares during the period. Apple comprises approximately 3.8% of Procyon Advisors LLC’s portfolio, making the stock its 4th largest position. Procyon Advisors LLC’s holdings in Apple were worth $17,442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elk River Wealth Management LLC lifted its position 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 valued at $29,181,000 after acquiring an additional 54,989 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Apple by 8.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 74,619 shares of the iPhone maker’s stock valued at $13,029,000 after acquiring an additional 5,703 shares in the last quarter. Piscataqua Savings Bank lifted its position in Apple by 1.5% in the 1st quarter. Piscataqua Savings Bank now owns 47,546 shares of the iPhone maker’s stock valued at $8,302,000 after acquiring an additional 684 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Apple in the 1st quarter valued at $171,000. Finally, Chico Wealth RIA bought a new stake in Apple in the 1st quarter valued at $7,794,000. Institutional investors and hedge funds own 57.72% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $152.74 on Friday. The company’s 50 day moving average price is $160.31 and its two-hundred day moving average price is $155.83. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The firm has a market cap of $2.45 trillion, a PE ratio of 25.20, a PEG ratio of 2.03 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 (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, topping analysts’ consensus estimates 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 analyst estimates of $82.97 billion. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 6.11 earnings per share for the current 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 dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.60%. Apple’s payout ratio is presently 15.18%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of several analyst reports. Citigroup boosted their price target on shares of Apple from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Oppenheimer reissued an “outperform” rating and set a $190.00 price target on shares of Apple in a research report on Wednesday, June 8th. UBS Group set a $185.00 price target on shares of Apple in a research report on Wednesday, September 14th. Fundamental Research set a $177.07 price target on shares of Apple and gave the stock a “buy” rating in a research report on Thursday, August 4th. Finally, Barclays set a $169.00 price target on shares of Apple in a research report on Wednesday, September 14th. Two research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.68.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the 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 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 currently owned by company 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.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.