Apple Inc. (NASDAQ:AAPL) Shares Sold by Martin Capital Partners LLC

Martin Capital Partners LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,335 shares of the iPhone maker’s stock after selling 60 shares during the quarter. Martin Capital Partners LLC’s holdings in Apple were worth $702,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in Apple during the first quarter worth about $35,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Apple during the 4th quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. increased its position in 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 purchasing an additional 368 shares in the last quarter. Clarity Asset Management Inc. purchased a new position in Apple in the fourth quarter valued at approximately $85,000. Finally, Clear Street Markets LLC lifted its position in Apple by 100.6% during the fourth quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock valued at $93,000 after buying an additional 83,965 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, 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. In the last ninety days, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and raised their target price for the company from $170.00 to $300.00 in a research note on Monday, July 15th. Citigroup reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Cfra raised their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, Wedbush boosted their price objective on shares of Apple from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $238.62.

Apple Stock Performance

AAPL opened at $220.82 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The stock has a market cap of $3.39 trillion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. The business’s 50 day moving average is $223.09 and its 200-day moving average is $197.26. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

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, topping analysts’ consensus estimates 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 return on equity of 147.15% and a net margin of 26.44%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. On average, analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

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

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.