Apple Inc. (NASDAQ:AAPL) Shares Sold by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,530 shares of the iPhone maker’s stock after selling 3,170 shares during the quarter. Apple comprises 5.9% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Peddock Capital Advisors LLC’s holdings in Apple were worth $23,069,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after acquiring an additional 18,067,216 shares in the last quarter. Norges Bank acquired a new position in Apple during the fourth quarter worth about $33,912,466,000. Wellington Management Group LLP raised its stake in Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after acquiring an additional 2,096,360 shares in the last quarter. Fisher Asset Management LLC raised its stake in Apple by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after acquiring an additional 1,067,587 shares in the last quarter. Finally, Capital International Investors raised its stake in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after acquiring an additional 2,474,887 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Down 2.8 %

NASDAQ AAPL opened at $216.32 on Tuesday. The firm has a market capitalization of $3.32 trillion, a P/E ratio of 33.64, a PEG ratio of 2.62 and a beta of 1.24. The business has a fifty day simple moving average of $222.91 and a 200 day simple moving average of $199.00. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. 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 released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during 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%. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.26 EPS. On average, analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AAPL shares. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Wedbush reaffirmed an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. UBS Group upped their price objective on Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 target price on shares of Apple in a report on Monday, September 9th. One equities research analyst has 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.17.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was 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 directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on 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 owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 in the last ninety days. 0.06% of the stock is currently owned by insiders.

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.