Apple Inc. (NASDAQ:AAPL) Shares Sold by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,239 shares of the iPhone maker’s stock after selling 4,237 shares during the period. Apple makes up about 1.8% of Redhawk Wealth Advisors Inc.’s holdings, making the stock its 8th largest holding. Redhawk Wealth Advisors Inc.’s holdings in Apple were worth $12,056,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Hoxton Planning & Management LLC grew its stake in Apple by 3.2% during the 4th quarter. Hoxton Planning & Management LLC now owns 24,629 shares of the iPhone maker’s stock worth $4,742,000 after buying an additional 764 shares during the last quarter. Warner Financial Inc. boosted its holdings in shares of Apple by 1.4% in the fourth quarter. Warner Financial Inc. now owns 13,181 shares of the iPhone maker’s stock valued at $2,538,000 after acquiring an additional 188 shares during the period. Bison Wealth LLC grew its position in shares of Apple by 2.0% during the fourth quarter. Bison Wealth LLC now owns 171,664 shares of the iPhone maker’s stock worth $33,050,000 after acquiring an additional 3,367 shares during the last quarter. Invesco LLC grew its position in shares of Apple by 5.6% during the fourth quarter. Invesco LLC now owns 52,508 shares of the iPhone maker’s stock worth $10,109,000 after acquiring an additional 2,803 shares during the last quarter. Finally, Investors Research Corp increased its holdings in shares of Apple by 5.8% in the 4th quarter. Investors Research Corp now owns 17,307 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 950 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value 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 approximately $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock valued at $23,723,887 in the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

Shares of Apple stock opened at $220.11 on Wednesday. The company’s fifty day simple moving average is $223.17 and its two-hundred day simple moving average is $197.89. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The firm has a market cap of $3.35 trillion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

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. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 15.55%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AAPL. KeyCorp restated a “hold” rating and issued a $247.61 price target on shares of Apple in a research report on Wednesday, August 28th. Citigroup reissued a “buy” rating and issued a $255.00 target price on shares of Apple in a report on Tuesday, August 27th. Barclays decreased their price target on Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. Finally, Wedbush restated an “outperform” rating and issued a $285.00 target price on shares of Apple in a research note on Monday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $238.62.

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.