St. Johns Investment Management Company LLC Reduces Holdings in Apple Inc. (NASDAQ:AAPL)

St. Johns Investment Management Company LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 65,259 shares of the iPhone maker’s stock after selling 462 shares during the quarter. Apple accounts for about 5.7% of St. Johns Investment Management Company LLC’s investment portfolio, making the stock its 2nd biggest position. St. Johns Investment Management Company LLC’s holdings in Apple were worth $8,922,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CFS Investment Advisory Services LLC increased its stake in Apple by 18,263.5% in the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock valued at $47,000 after acquiring an additional 7,416,445 shares during the period. Spence Asset Management bought a new stake in Apple in the second quarter valued at about $49,000. HBC Financial Services PLLC increased its stake in Apple by 21.7% in the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares during the period. Emerson Wealth LLC increased its stake in Apple by 27.0% in the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 110 shares during the period. Finally, Darrow Company Inc. bought a new stake in Apple in the second quarter valued at about $107,000. Institutional investors own 57.72% of the company’s stock.

Apple Stock Up 0.6 %

Shares of NASDAQ:AAPL opened at $151.07 on Thursday. Apple Inc. has a 52 week low of $129.04 and a 52 week high of $182.94. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. The company has a market capitalization of $2.40 trillion, a PE ratio of 24.73, a PEG ratio of 1.89 and a beta of 1.25. The company has a 50 day moving average price of $146.70 and a two-hundred day moving average price of $149.66.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating 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 the consensus estimate of $88.77 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.26 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Shareholders 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 was Friday, November 4th. Apple’s payout ratio is presently 15.06%.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 176,299 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $142.16, for a total value of $25,062,665.84. Following the completion of the sale, the senior vice president now owns 136,290 shares of the company’s stock, valued at $19,374,986.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 20,200 shares of the stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 176,299 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total transaction of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at approximately $19,374,986.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 380,851 shares of company stock valued at $56,707,789. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AAPL. KeyCorp reaffirmed a “buy” rating and set a $175.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Wedbush decreased their price objective on shares of Apple from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Credit Suisse Group set a $184.00 price objective on shares of Apple in a research note on Thursday, November 17th. Fundamental Research upped their price objective on shares of Apple to $168.50 and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Apple from $175.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. Two investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.26.

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.

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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