Deuterium Capital Management LLC Trims Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Deuterium Capital Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 40.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,000 shares of the iPhone maker’s stock after selling 18,000 shares during the quarter. Apple makes up approximately 9.6% of Deuterium Capital Management LLC’s portfolio, making the stock its 3rd biggest position. Deuterium Capital Management LLC’s holdings in Apple were worth $5,687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Financial Advisory increased its stake in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. grew its stake in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after acquiring an additional 50 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its holdings in Apple by 1.1% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after purchasing an additional 51 shares during the last quarter. Foresight Capital Management Advisors Inc. boosted its holdings in Apple by 0.3% in the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the last quarter. Finally, Altus Wealth Management LLC boosted its holdings in Apple by 0.6% in the 2nd quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock valued at $2,002,000 after purchasing an additional 55 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Raymond James upped their price objective on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. The Goldman Sachs Group increased their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Melius Research reissued a “buy” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. Maxim Group reaffirmed a “hold” rating and issued a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. Finally, Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Trading Up 1.8 %

Shares of Apple stock opened at $225.77 on Wednesday. The stock has a fifty day simple moving average of $222.96 and a 200 day simple moving average of $204.59. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a market capitalization of $3.46 trillion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. 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 issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share 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 analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.26 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is currently 15.55%.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple 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.