Newman Dignan & Sheerar Inc. Cuts Stake in Apple Inc. (NASDAQ:AAPL)

Newman Dignan & Sheerar Inc. cut its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,908 shares of the iPhone maker’s stock after selling 5,171 shares during the quarter. Apple makes up about 3.4% of Newman Dignan & Sheerar Inc.’s holdings, making the stock its 3rd biggest position. Newman Dignan & Sheerar Inc.’s holdings in Apple were worth $9,831,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spence Asset Management acquired a new position in Apple in the 2nd quarter valued at $49,000. HBC Financial Services PLLC grew its position in Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the last quarter. Emerson Wealth LLC grew its position in Apple by 27.0% in the 2nd quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 110 shares during the last quarter. Darrow Company Inc. acquired a new stake in Apple in the 2nd quarter worth $107,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Apple in the 1st quarter worth $171,000. 57.72% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 2.2 %

NASDAQ AAPL opened at $148.01 on Tuesday. The stock has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.93 and a beta of 1.25. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. 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 business’s fifty day moving average is $146.78 and its 200-day moving average is $149.71.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. During the same period in the previous year, the business posted $1.24 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 6.26 EPS for the current year.

Apple Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio is currently 15.06%.

Analysts Set New Price Targets

Several analysts have issued reports on AAPL shares. Citigroup restated a “buy” rating and issued a $175.00 price target on shares of Apple in a research report on Tuesday, November 8th. Robert W. Baird dropped their target price on shares of Apple from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Saturday, November 5th. Itaú Unibanco started coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target for the company. Finally, DA Davidson decreased their price objective on shares of Apple from $185.00 to $167.00 and set a “buy” rating for the company in a report on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Insider Activity at Apple

In other news, SVP Deirdre O’brien sold 8,053 shares of the company’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 sale, the senior vice president now directly owns 136,290 shares in the company, valued at $19,414,510.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Apple news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 8,053 shares of the business’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 disclosure for this sale can be found here. In the last three months, insiders have sold 360,651 shares of company stock worth $53,703,645. Company insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

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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