Fagan Associates Inc. Sells 1,444 Shares of Apple Inc. (NASDAQ:AAPL)

Fagan Associates Inc. cut its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,458 shares of the iPhone maker’s stock after selling 1,444 shares during the period. Apple accounts for 9.1% of Fagan Associates Inc.’s portfolio, making the stock its largest position. Fagan Associates Inc.’s holdings in Apple were worth $34,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Seneca House Advisors raised its holdings in Apple by 0.3% in the second quarter. Seneca House Advisors now owns 32,501 shares of the iPhone maker’s stock valued at $4,444,000 after acquiring an additional 102 shares in the last quarter. Sweet Financial Partners LLC increased its stake in Apple by 5.4% during the second quarter. Sweet Financial Partners LLC now owns 24,994 shares of the iPhone maker’s stock valued at $3,417,000 after purchasing an additional 1,281 shares during the last quarter. Searle & CO. increased its stake in Apple by 5.9% during the second quarter. Searle & CO. now owns 120,716 shares of the iPhone maker’s stock valued at $16,504,000 after purchasing an additional 6,675 shares during the last quarter. Cohen Investment Advisors LLC increased its stake in Apple by 2.2% during the second quarter. Cohen Investment Advisors LLC now owns 51,643 shares of the iPhone maker’s stock valued at $7,060,000 after purchasing an additional 1,103 shares during the last quarter. Finally, SPC Financial Inc. increased its stake in Apple by 5.1% during the second quarter. SPC Financial Inc. now owns 41,754 shares of the iPhone maker’s stock valued at $5,709,000 after purchasing an additional 2,032 shares during the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and lowered their target price for the company from $189.00 to $160.00 in a research note on Friday, September 30th. Itau BBA Securities assumed coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Bank of America lowered their price target on shares of Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Saturday, November 5th. Finally, Itaú Unibanco assumed coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Two investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $176.26.

Apple Stock Performance

Shares of AAPL opened at $151.29 on Monday. The company has a 50-day moving average of $147.08 and a two-hundred day moving average of $149.77. The stock has a market cap of $2.41 trillion, a price-to-earnings ratio of 24.76, a PEG ratio of 1.93 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 Inc. has a one year low of $129.04 and a one year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $88.77 billion. During the same quarter last year, the business posted $1.24 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts expect that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Announces Dividend

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

Insiders Place Their Bets

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

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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