Hillcrest Wealth Advisors NY LLC Reduces Position in Apple Inc. (NASDAQ:AAPL)

Hillcrest Wealth Advisors NY LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 14.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,514 shares of the iPhone maker’s stock after selling 263 shares during the quarter. Hillcrest Wealth Advisors NY LLC’s holdings in Apple were worth $319,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AAPL. AIA Group Ltd boosted its holdings in shares of Apple by 14.7% in the fourth quarter. AIA Group Ltd now owns 132,862 shares of the iPhone maker’s stock valued at $25,580,000 after purchasing an additional 17,064 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of Apple by 27.3% in the fourth quarter. Fidelis Capital Partners LLC now owns 175,177 shares of the iPhone maker’s stock valued at $33,727,000 after purchasing an additional 37,620 shares during the period. Fonville Wealth Management LLC purchased a new stake in shares of Apple in the fourth quarter valued at approximately $4,045,000. Grunden Financial Advisory Inc. purchased a new stake in shares of Apple in the fourth quarter valued at approximately $619,000. Finally, Colton Groome Financial Advisors LLC boosted its holdings in shares of Apple by 19.7% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 29,418 shares of the iPhone maker’s stock valued at $5,664,000 after purchasing an additional 4,836 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AAPL shares. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday, September 10th. Maxim Group reissued a “hold” rating and issued a $203.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. TD Cowen boosted their price objective on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $239.17.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

NASDAQ:AAPL opened at $222.50 on Monday. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The firm has a market cap of $3.41 trillion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.62 and a beta of 1.24. The firm’s fifty day moving average is $223.14 and its two-hundred day moving average is $198.75.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same period in the prior year, the company posted $1.26 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts expect that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.