Apple Inc. (NASDAQ:AAPL) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 644,062 shares of the iPhone maker’s stock after selling 5,187 shares during the quarter. Apple accounts for approximately 4.1% of Apollon Wealth Management LLC’s portfolio, making the stock its largest holding. Apollon Wealth Management LLC’s holdings in Apple were worth $135,652,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AAPL. Christopher J. Hasenberg Inc acquired a new position in shares of Apple during the 1st quarter worth $35,000. Fidelis Capital Partners LLC increased its holdings in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in Apple during the fourth quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. lifted its holdings in shares of Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Apple in the fourth quarter valued at approximately $85,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $228.87 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.51 trillion, a P/E ratio of 35.59, a PEG ratio of 2.62 and a beta of 1.24. The firm has a fifty day moving average of $222.45 and a 200-day moving average of $199.62. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the firm earned $1.26 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, analysts predict that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Thursday. Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Evercore ISI reiterated an “outperform” rating and set a $250.00 price objective on shares of Apple in a research report on Monday. Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, September 5th. Finally, Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock worth $23,723,887 over the last 90 days. Company insiders own 0.06% of the company’s stock.

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.