Horan Capital Advisors LLC. Sells 677 Shares of Apple Inc. (NASDAQ:AAPL)

Horan Capital Advisors LLC. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the second quarter, Holdings Channel.com reports. The institutional investor owned 81,579 shares of the iPhone maker’s stock after selling 677 shares during the period. Apple accounts for 6.0% of Horan Capital Advisors LLC.’s investment portfolio, making the stock its 2nd largest holding. Horan Capital Advisors LLC.’s holdings in Apple were worth $17,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AAPL. Private Management Group Inc. raised its stake in Apple by 9.4% in the second quarter. Private Management Group Inc. now owns 18,721 shares of the iPhone maker’s stock valued at $3,943,000 after buying an additional 1,612 shares during the period. Stonekeep Investments LLC bought a new stake in Apple in the 2nd quarter valued at $1,376,000. DDFG Inc lifted its holdings in Apple by 0.3% during the 2nd quarter. DDFG Inc now owns 27,014 shares of the iPhone maker’s stock valued at $5,690,000 after purchasing an additional 79 shares during the last quarter. X Square Capital LLC boosted its position in Apple by 14.1% during the second quarter. X Square Capital LLC now owns 13,629 shares of the iPhone maker’s stock worth $2,871,000 after purchasing an additional 1,685 shares during the period. Finally, Adapt Wealth Advisors LLC grew its stake in Apple by 25.2% in the 2nd quarter. Adapt Wealth Advisors LLC now owns 6,337 shares of the iPhone maker’s stock valued at $1,335,000 after buying an additional 1,276 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AAPL. Citigroup increased their target price on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird lifted their price target on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group raised their target price on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and boosted their price target for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Finally, TD Cowen upped their price objective on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.91.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $231.41 on Friday. The firm has a market capitalization of $3.55 trillion, a price-to-earnings ratio of 35.99, a PEG ratio of 2.40 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The business has a 50-day simple moving average of $226.75 and a 200 day simple moving average of $209.62. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last posted its earnings results 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 company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.26 EPS. On average, research analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is 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.