Apple Inc. (NASDAQ:AAPL) Holdings Lowered by Avalon Global Asset Management LLC

Avalon Global Asset Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 27.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 78,320 shares of the iPhone maker’s stock after selling 29,600 shares during the period. Apple accounts for about 3.8% of Avalon Global Asset Management LLC’s holdings, making the stock its 9th biggest position. Avalon Global Asset Management LLC’s holdings in Apple were worth $16,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 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 worth $35,000 after acquiring an additional 31,278 shares during the period. Access Investment Management LLC purchased a new position in shares of Apple during the 1st quarter valued at $140,000. Hoese & Co LLP grew its position in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple in the second quarter worth $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in Apple during the second quarter valued at $208,000. 60.41% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock worth $93,021,362 in the last quarter. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent analyst reports. TD Cowen raised their price target on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Tuesday, September 10th. Loop Capital cut their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Citigroup raised their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays cut their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Apple Stock Down 0.1 %

Apple stock opened at $226.96 on Friday. The firm has a market cap of $3.43 trillion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.18 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock has a fifty day simple moving average of $226.82 and a two-hundred day simple moving average of $214.03.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business posted $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Apple Company Profile

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.