Apple Inc. (NASDAQ:AAPL) Shares Sold by 360 Financial Inc.

360 Financial Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 8.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,603 shares of the iPhone maker’s stock after selling 855 shares during the period. Apple accounts for approximately 0.9% of 360 Financial Inc.’s portfolio, making the stock its 19th largest position. 360 Financial Inc.’s holdings in Apple were worth $1,480,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mokosak Advisory Group LLC grew its position in Apple by 1.2% during the first quarter. Mokosak Advisory Group LLC now owns 5,702 shares of the iPhone maker’s stock worth $996,000 after buying an additional 66 shares during the period. Harbor Capital Advisors Inc. grew its position in Apple by 6.7% during the second quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock worth $143,000 after buying an additional 66 shares during the period. Lake Point Wealth Management grew its position in Apple by 1.7% during the second quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock worth $550,000 after buying an additional 67 shares during the period. Cardinal Point Wealth Management Partners LLC grew its position in Apple by 0.4% during the second quarter. Cardinal Point Wealth Management Partners LLC now owns 16,455 shares of the iPhone maker’s stock worth $2,250,000 after buying an additional 68 shares during the period. Finally, Silver Lake Advisory LLC grew its position in shares of Apple by 1.4% in the second quarter. Silver Lake Advisory LLC now owns 4,875 shares of the iPhone maker’s stock valued at $667,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AAPL shares. Barclays lowered their price target on shares of Apple from $156.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. Bank of America lowered their price target on shares of Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. Citigroup reiterated a “buy” rating and issued a $175.00 price target on shares of Apple in a research report on Tuesday, November 8th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Saturday, November 5th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $189.00 price target on shares of Apple in a research report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Apple Stock Performance

Shares of AAPL stock opened at $151.07 on Thursday. The company’s fifty day simple moving average is $146.70 and its 200-day simple moving average is $149.66. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The company has a market cap of $2.40 trillion, a PE ratio of 24.73, a P/E/G ratio of 1.89 and a beta of 1.25.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating 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 business had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter last year, the firm posted $1.24 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 6.26 EPS for the current year.

Apple Announces Dividend

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

Insider Activity at Apple

In related news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction 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 directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Deirdre O’brien sold 8,053 shares of the firm’s stock in a transaction 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 completion of 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The disclosure for this sale can be found here. In the last three months, insiders sold 380,851 shares of company stock valued at $56,707,789. Corporate insiders own 0.06% of the company’s stock.

About Apple

(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.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.