Northstar Advisory Group LLC Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Northstar Advisory Group LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 14.2% during the second quarter, Holdings Channel reports. The fund owned 33,751 shares of the iPhone maker’s stock after selling 5,565 shares during the quarter. Apple comprises about 3.4% of Northstar Advisory Group LLC’s holdings, making the stock its 8th biggest holding. Northstar Advisory Group LLC’s holdings in Apple were worth $4,614,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AAPL. Donald L. Hagan LLC raised its position in shares of Apple by 0.3% in the first quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after acquiring an additional 61 shares during the period. Goodwin Daniel L raised its position in shares of Apple by 0.5% in the first quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after acquiring an additional 62 shares during the period. Opus Capital Group LLC raised its position in shares of Apple by 0.3% in the first quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after acquiring an additional 63 shares during the period. Norwood Financial Corp raised its position in shares of Apple by 0.9% in the first quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after acquiring an additional 65 shares during the period. 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 worth $2,814,000 after purchasing an additional 66 shares during the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were 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 in the company, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction 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 approximately $19,362,241.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 25,000 shares of Apple stock in a transaction 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 $70,411,823.18. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $152.74 on Friday. The firm has a market cap 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. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.63. The company’s 50 day moving average is $160.31 and its two-hundred day moving average is $155.83.

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

Apple Dividend Announcement

The company also recently disclosed 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 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 15.18%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Rosenblatt Securities reduced their price target on shares of Apple from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. KeyCorp upped their price target on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Morgan Stanley reduced their price target on shares of Apple from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Wells Fargo & Company reduced their price target 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. Finally, Bank of America dropped their price objective on shares of Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Two equities research 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. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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