Resources Management Corp CT ADV Sells 3,721 Shares of Apple Inc. (NASDAQ:AAPL)

Resources Management Corp CT ADV decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 204,098 shares of the iPhone maker’s stock after selling 3,721 shares during the period. Apple accounts for 6.3% of Resources Management Corp CT ADV’s investment portfolio, making the stock its biggest position. Resources Management Corp CT ADV’s holdings in Apple were worth $42,987,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Granite Investment Partners LLC raised its stake in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Bellwether Advisors LLC grew its holdings in shares of Apple by 387.3% during the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after buying an additional 19,352 shares in the last quarter. Gentry Private Wealth LLC acquired a new position in shares of Apple in the second quarter valued at approximately $876,000. Independent Advisor Alliance lifted its stake in shares of Apple by 0.9% during the second quarter. Independent Advisor Alliance now owns 920,737 shares of the iPhone maker’s stock valued at $193,926,000 after buying an additional 8,028 shares during the period. Finally, WT Asset Management Ltd acquired a new stake in Apple during the second quarter worth approximately $80,057,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of Apple stock opened at $226.96 on Monday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 37.33, a PEG ratio of 2.18 and a beta of 1.24. The firm has a fifty day moving average of $226.82 and a two-hundred day moving average of $214.36.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS. As a group, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 412,746 shares of company stock valued at $93,021,362. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on AAPL. Moffett Nathanson began coverage on Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and upped their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Rosenblatt Securities raised their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Finally, The Goldman Sachs Group raised their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $235.51.

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.