Running Point Capital Advisors LLC Sells 773 Shares of Apple Inc. (NASDAQ:AAPL)

Running Point Capital Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 4.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 16,641 shares of the iPhone maker’s stock after selling 773 shares during the period. Apple comprises approximately 1.5% of Running Point Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Running Point Capital Advisors LLC’s holdings in Apple were worth $2,275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Apple by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Apple by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock valued at $14,097,970,000 after purchasing an additional 1,155,915 shares during the last quarter. Swiss National Bank lifted its stake in shares of Apple by 13.1% in the 1st quarter. Swiss National Bank now owns 71,060,708 shares of the iPhone maker’s stock valued at $12,407,910,000 after purchasing an additional 8,230,300 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Apple by 10.1% in the 1st quarter. Wellington Management Group LLP now owns 67,133,546 shares of the iPhone maker’s stock valued at $11,722,187,000 after purchasing an additional 6,162,898 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Apple by 2.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,435,007 shares of the iPhone maker’s stock valued at $6,758,754,000 after purchasing an additional 1,003,177 shares during the last quarter. 57.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Apple news, SVP Deirdre O’brien sold 8,053 shares of Apple stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,414,510.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Apple news, SVP Deirdre O’brien sold 8,053 shares of Apple stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,414,510.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $155.95, for a total value of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 360,651 shares of company stock valued at $53,703,645. 0.06% of the stock is owned by company insiders.

Apple Stock Up 1.3 %

Apple stock opened at $150.72 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The stock has a market capitalization of $2.40 trillion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.90 and a beta of 1.25. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The business has a fifty day moving average price of $147.21 and a 200-day moving average price of $150.00.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The firm had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. Equities research analysts forecast that Apple Inc. will post 6.31 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given a dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. Apple’s dividend payout ratio is currently 15.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AAPL shares. DA Davidson lowered their price objective on Apple from $185.00 to $167.00 and set a “buy” rating for the company in a research note on Friday, October 28th. Evercore ISI increased their price target on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, September 20th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Credit Suisse Group set a $184.00 price target on Apple in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Apple from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.26.

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.

See Also

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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