Apple Inc. (NASDAQ:AAPL) Shares Sold by Horizon Wealth Management LLC

Horizon Wealth Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 13.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,466 shares of the iPhone maker’s stock after selling 9,239 shares during the quarter. Apple accounts for about 2.9% of Horizon Wealth Management LLC’s portfolio, making the stock its 12th largest position. Horizon Wealth Management LLC’s holdings in Apple were worth $12,103,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Christopher J. Hasenberg Inc purchased a new stake in Apple during the 1st quarter valued at about $35,000. Fidelis Capital Partners LLC raised its stake in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple during the fourth quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. boosted its position in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after buying an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in Apple in the 4th quarter worth approximately $85,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple 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 approximately $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of Apple 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 sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Cfra lifted their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Morgan Stanley restated an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Melius Research reaffirmed a “buy” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 price objective (up previously from $190.00) on shares of Apple in a report on Tuesday, July 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

Apple Price Performance

Apple stock opened at $228.20 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company’s 50 day moving average is $222.41 and its two-hundred day moving average is $199.99. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The firm has a market cap of $3.50 trillion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. On average, research analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s 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.