Apple Inc. (NASDAQ:AAPL) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 0.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 601,932 shares of the iPhone maker’s stock after selling 2,275 shares during the quarter. Apple accounts for 4.5% of Meyer Handelman Co.’s investment portfolio, making the stock its 2nd biggest holding. Meyer Handelman Co.’s holdings in Apple were worth $126,779,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Foresight Capital Management Advisors Inc. boosted its position in shares of Apple by 0.3% in 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 during the period. Hoese & Co LLP increased its holdings in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the period. Stableford Capital II LLC lifted its stake in Apple by 0.3% in the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after purchasing an additional 59 shares in the last quarter. Whitcomb & Hess Inc. boosted its holdings in Apple by 1.7% in the 2nd quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after purchasing an additional 59 shares during the period. Finally, Kwmg LLC grew its position in shares of Apple by 0.6% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Rosenblatt Securities increased their price objective on Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Monness Crespi & Hardt raised their target price on shares of Apple from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a research report on Tuesday, June 11th. Finally, Maxim Group increased their price target on shares of Apple from $195.00 to $203.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $238.62.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated 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 owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 over the last quarter. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $220.82 on Monday. 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 company has a 50-day moving average price of $223.09 and a 200-day moving average price of $197.36. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

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 analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the business earned $1.26 EPS. Apple’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

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

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.