Apple Inc. (NASDAQ:AAPL) Stake Lessened by Avondale Wealth Management

Avondale Wealth Management lessened its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 7.4% in the second quarter, Holdings Channel reports. The institutional investor owned 10,910 shares of the iPhone maker’s stock after selling 874 shares during the quarter. Apple accounts for about 1.7% of Avondale Wealth Management’s portfolio, making the stock its 11th largest position. Avondale Wealth Management’s holdings in Apple were worth $1,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Qube Research & Technologies Ltd increased its stake in Apple by 145.8% during the fourth quarter. Qube Research & Technologies Ltd now owns 643,206 shares of the iPhone maker’s stock valued at $114,214,000 after purchasing an additional 381,507 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Apple by 24.2% during the fourth quarter. Teacher Retirement System of Texas now owns 7,217,055 shares of the iPhone maker’s stock valued at $1,281,532,000 after acquiring an additional 1,408,326 shares during the period. OPSEU Pension Plan Trust Fund boosted its holdings in shares of Apple by 9.3% during the fourth quarter. OPSEU Pension Plan Trust Fund now owns 15,985 shares of the iPhone maker’s stock valued at $2,909,000 after acquiring an additional 1,362 shares during the period. Fosun International Ltd boosted its holdings in shares of Apple by 9.1% during the fourth quarter. Fosun International Ltd now owns 59,101 shares of the iPhone maker’s stock valued at $10,520,000 after acquiring an additional 4,905 shares during the period. Finally, Smith Salley & Associates boosted its holdings in shares of Apple by 3.3% during the fourth quarter. Smith Salley & Associates now owns 393,025 shares of the iPhone maker’s stock valued at $69,789,000 after acquiring an additional 12,669 shares during the period. Institutional investors own 57.72% of the company’s stock.

Insider Activity 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 transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, CFO Luca Maestri sold 96,735 shares of the company’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 completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the senior vice president now directly owns 427,334 shares of the company’s stock, 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 Trading Down 0.6 %

Shares of NASDAQ AAPL opened at $152.74 on Friday. The stock has a market cap of $2.45 trillion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.03 and a beta of 1.23. The business has a 50 day simple moving average of $160.31 and a 200 day simple moving average of $155.83. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. 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 quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. On average, research analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.60%. Apple’s payout ratio is 15.18%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AAPL shares. Credit Suisse Group set a $201.00 price target on shares of Apple in a report on Thursday, September 8th. Evercore ISI upped 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. Morgan Stanley reduced their price objective on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Rosenblatt Securities reduced their price objective on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Finally, Deutsche Bank Aktiengesellschaft set a $175.00 price objective on shares of Apple in a report on Monday, August 1st. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $181.68.

About Apple

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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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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