Apple Inc. (NASDAQ:AAPL) Shares Sold by Orleans Capital Management Corp LA

Orleans Capital Management Corp LA trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,108 shares of the iPhone maker’s stock after selling 518 shares during the period. Apple comprises about 7.2% of Orleans Capital Management Corp LA’s portfolio, making the stock its largest position. Orleans Capital Management Corp LA’s holdings in Apple were worth $11,396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Hershey Financial Advisers LLC acquired a new position in Apple during the 2nd quarter worth approximately $42,000. Access Investment Management LLC bought a new stake in shares of Apple in the first quarter worth $140,000. Hoese & Co LLP boosted its holdings in Apple by 6.7% during 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 during the last quarter. Sage Financial Group Inc. bought a new position in Apple in the second quarter valued at $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple in the 2nd quarter valued at $208,000. 60.41% of the stock is owned by institutional investors.

Apple Stock Down 1.4 %

Shares of AAPL opened at $225.00 on Friday. The firm’s 50 day moving average is $227.04 and its 200-day moving average is $215.96. The stock has a market capitalization of $3.40 trillion, a PE ratio of 37.01, a P/E/G ratio of 2.21 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.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid 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 Friday, November 8th. Apple’s payout ratio is 16.45%.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,040 shares of company stock worth $91,062,512 over the last three months. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. Evercore ISI restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Loop Capital dropped their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Finally, New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Apple 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.