Jacobsen Capital Management Sells 4,966 Shares of Apple Inc. (NASDAQ:AAPL)

Jacobsen Capital Management lowered its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 17.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 23,316 shares of the iPhone maker’s stock after selling 4,966 shares during the quarter. Apple comprises approximately 1.7% of Jacobsen Capital Management’s investment portfolio, making the stock its 12th largest position. Jacobsen Capital Management’s holdings in Apple were worth $3,188,000 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. Advisory Services Network LLC grew its holdings in shares of Apple by 2.9% in the second quarter. Advisory Services Network LLC now owns 727,323 shares of the iPhone maker’s stock worth $99,438,000 after acquiring an additional 20,730 shares during the period. Kovitz Investment Group Partners LLC increased its position in shares of Apple by 0.6% during the 2nd quarter. Kovitz Investment Group Partners LLC now owns 1,297,159 shares of the iPhone maker’s stock valued at $177,348,000 after purchasing an additional 7,663 shares during the last quarter. Pinnacle Wealth Management Group Inc. lifted its stake in shares of Apple by 1.0% in the 2nd quarter. Pinnacle Wealth Management Group Inc. now owns 37,435 shares of the iPhone maker’s stock worth $5,118,000 after purchasing an additional 360 shares during the period. Journey Advisory Group LLC boosted its holdings in shares of Apple by 10.1% in the second quarter. Journey Advisory Group LLC now owns 178,883 shares of the iPhone maker’s stock worth $28,891,000 after buying an additional 16,464 shares during the last quarter. Finally, UMA Financial Services Inc. grew its position in Apple by 0.3% during the second quarter. UMA Financial Services Inc. now owns 75,170 shares of the iPhone maker’s stock valued at $12,141,000 after buying an additional 260 shares during the period. Institutional investors own 57.72% of the company’s stock.

Insider Transactions at Apple

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

Apple Price Performance

Apple stock opened at $151.29 on Friday. The firm has a 50-day moving average of $147.08 and a two-hundred day moving average of $149.95. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The stock has a market cap of $2.41 trillion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.90 and a beta of 1.25. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.02. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter in the prior year, the company earned $1.24 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts forecast that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $189.00 price target on shares of Apple in a research note on Tuesday, November 8th. Bank Of America (Bofa) downgraded Apple from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $189.00 to $160.00 in a research note on Friday, September 30th. UBS Group set a $180.00 price objective on Apple in a research note on Wednesday. Morgan Stanley decreased their price target on shares of Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 8th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $139.00 target price on shares of Apple in a report on Thursday, September 8th. Two equities 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 company. Based on data from MarketBeat, the company presently has an average 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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