Apple Inc. (NASDAQ:AAPL) Position Reduced by Continuum Advisory LLC

Continuum Advisory LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 118,000 shares of the iPhone maker’s stock after selling 1,641 shares during the quarter. Apple accounts for 3.6% of Continuum Advisory LLC’s portfolio, making the stock its 2nd largest position. Continuum Advisory LLC’s holdings in Apple were worth $24,853,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AAPL. Yeomans Consulting Group Inc. acquired a new position in shares of Apple in the 4th quarter valued at approximately $1,713,000. Raleigh Capital Management Inc. raised its holdings in shares of Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after buying an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA acquired a new position in Apple during the 4th quarter worth $38,406,000. Barden Capital Management Inc. grew its position in Apple by 132.8% in the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after buying an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC bought a new position in shares of Apple in the fourth quarter valued at approximately $4,782,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 3.7 %

Shares of AAPL opened at $228.87 on Friday. The company has a market capitalization of $3.51 trillion, a P/E ratio of 35.59, a PEG ratio of 2.62 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The business’s 50 day simple moving average is $222.45 and its 200-day simple moving average is $199.62. 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 quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is presently 15.55%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AAPL shares. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 target price on shares of Apple in a report on Monday, September 9th. Raymond James lifted their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Thursday. Evercore ISI restated an “outperform” rating and set a $250.00 price target on shares of Apple in a report on Monday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

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.