Bullseye Investment Management LLC Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Bullseye Investment Management LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 10.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,491 shares of the iPhone maker’s stock after selling 181 shares during the quarter. Bullseye Investment Management LLC’s holdings in Apple were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple in the first quarter worth approximately $35,000. Fidelis Capital Partners LLC boosted its holdings in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Apple in the 4th quarter valued at $39,000. Gilfoyle & Co LLC grew its stake in shares of Apple by 168.0% during the 4th quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock valued at $52,000 after buying an additional 168 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. increased its holdings in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Melius Research boosted their price target on Apple from $227.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Monness Crespi & Hardt increased their target price on shares of Apple from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler lifted their price target on shares of Apple from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. Canaccord Genuity Group raised their price objective on Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Saturday, May 4th. Finally, Barclays decreased their target price on Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.63.

Apple Trading Down 0.8 %

Apple stock opened at $224.53 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The firm’s 50-day moving average is $220.03 and its 200-day moving average is $194.13. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market cap of $3.44 trillion, a P/E ratio of 34.92, a PEG ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. Apple’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $1.26 earnings per share. On average, equities analysts expect that Apple Inc. will post 6.61 earnings per share for the current year.

Apple Dividend Announcement

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

Apple declared that its Board of Directors has initiated a share buyback plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at $835,207,570.08. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares in the company, valued at $835,207,570.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold 188,884 shares of company stock valued at $38,092,387 over the last three months. Company insiders own 0.06% of the company’s stock.

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.