Stablepoint Partners LLC Trims Position in Apple Inc. (NASDAQ:AAPL)

Stablepoint Partners LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,198 shares of the iPhone maker’s stock after selling 2,662 shares during the period. Apple makes up 2.7% of Stablepoint Partners LLC’s portfolio, making the stock its 2nd largest holding. Stablepoint Partners LLC’s holdings in Apple were worth $15,975,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of AAPL. Swedbank AB bought a new stake in Apple in the 1st quarter valued at $3,026,492,000. Global Assets Advisory LLC increased its holdings in Apple by 23,076.4% in the 1st quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after acquiring an additional 9,200,345 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Apple by 158.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after acquiring an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock worth $1,502,068,000 after buying an additional 5,405,542 shares during the last quarter. Finally, Natixis increased its holdings in shares of Apple by 127.7% in the 1st quarter. Natixis now owns 4,632,987 shares of the iPhone maker’s stock worth $794,465,000 after buying an additional 2,598,742 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Trading Up 1.2 %

NASDAQ:AAPL opened at $235.00 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The firm has a market cap of $3.60 trillion, a P/E ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 1.24. The firm has a 50-day simple moving average of $225.78 and a 200-day simple moving average of $208.11.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the previous year, the business posted $1.26 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio is currently 15.55%.

Analyst Ratings Changes

AAPL has been the topic of a number of research reports. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Maxim Group restated a “hold” rating and issued a $203.00 target price on shares of Apple in a report on Tuesday, September 10th. KeyCorp restated a “hold” rating and issued a $247.61 target price on shares of Apple in a report on Wednesday, August 28th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Moffett Nathanson initiated coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.27.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 completion of the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by corporate insiders.

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.