Apple Inc. (NASDAQ:AAPL) is Westside Investment Management Inc.’s Largest Position

Westside Investment Management Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,906 shares of the iPhone maker’s stock after selling 495 shares during the period. Apple comprises about 4.4% of Westside Investment Management Inc.’s investment portfolio, making the stock its biggest holding. Westside Investment Management Inc.’s holdings in Apple were worth $19,084,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AAPL. Acute Investment Advisory LLC raised its stake in shares of Apple by 19.2% in the 4th quarter. Acute Investment Advisory LLC now owns 5,025 shares of the iPhone maker’s stock valued at $967,000 after purchasing an additional 810 shares in the last quarter. TRUE Private Wealth Advisors increased its holdings in Apple by 1.5% in the fourth quarter. TRUE Private Wealth Advisors now owns 163,502 shares of the iPhone maker’s stock valued at $31,479,000 after buying an additional 2,439 shares during the last quarter. Sfmg LLC raised its stake in Apple by 2.5% during the fourth quarter. Sfmg LLC now owns 232,790 shares of the iPhone maker’s stock valued at $44,819,000 after buying an additional 5,691 shares in the last quarter. Goodman Advisory Group LLC lifted its holdings in Apple by 35.3% during the 4th quarter. Goodman Advisory Group LLC now owns 51,502 shares of the iPhone maker’s stock worth $9,916,000 after buying an additional 13,437 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of Apple in the 4th quarter worth approximately $1,991,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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 of the company’s stock, valued at approximately $3,469,275. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple 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 owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAPL. Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Tuesday. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday. Oppenheimer reiterated an “outperform” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Cfra increased their price target on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.62.

Apple Stock Down 0.1 %

AAPL stock opened at $222.50 on Friday. The company’s 50 day simple moving average is $223.14 and its 200-day simple moving average is $198.52. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a market capitalization of $3.38 trillion, a P/E ratio of 34.60, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its earnings results 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 return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter last year, the firm posted $1.26 earnings per share. Apple’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend 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.