Apple Inc. (NASDAQ:AAPL) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 40.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,342 shares of the iPhone maker’s stock after selling 11,090 shares during the period. Apple comprises about 4.3% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 4th biggest holding. Argus Investors Counsel Inc.’s holdings in Apple were worth $3,442,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AAPL. Foresight Capital Management Advisors Inc. raised its position in Apple by 0.3% during the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after acquiring an additional 55 shares in the last quarter. Hoese & Co LLP boosted its holdings in Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Stableford Capital II LLC increased its holdings in shares of Apple by 0.3% during the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after acquiring an additional 59 shares during the last quarter. Whitcomb & Hess Inc. boosted its position in Apple by 1.7% during the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock worth $746,000 after purchasing an additional 59 shares during the period. Finally, Kwmg LLC grew its holdings in Apple by 0.6% during the first quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the 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 owns 191,543 shares of the company’s stock, 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. In other news, insider Chris Kondo sold 8,706 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by corporate insiders.

Apple Price Performance

Shares of AAPL opened at $228.87 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.51 trillion, a P/E ratio of 35.59, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The stock’s 50-day moving average price is $222.45 and its two-hundred day moving average price is $199.62.

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. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. On average, equities analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AAPL shares. Wedbush reissued an “outperform” rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and boosted their target price for the stock from $170.00 to $300.00 in a research report on Monday, July 15th. Moffett Nathanson initiated coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, Bank of America reissued a “buy” rating and set a $256.00 price objective on shares of Apple in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

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.