Apple Inc. (NASDAQ:AAPL) Position Reduced by Investment House LLC

Investment House LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 627,827 shares of the iPhone maker’s stock after selling 68,328 shares during the quarter. Apple comprises approximately 7.5% of Investment House LLC’s portfolio, making the stock its biggest holding. Investment House LLC’s holdings in Apple were worth $132,233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in Apple during the 1st quarter worth about $35,000. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple during the fourth quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. lifted its holdings in shares of 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 worth $82,000 after buying an additional 368 shares in the last quarter. Clarity Asset Management Inc. bought a new position in shares of Apple in the fourth quarter valued at approximately $85,000. Finally, Clear Street Markets LLC grew its stake in Apple by 100.6% during the fourth quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock valued at $93,000 after acquiring an additional 83,965 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated 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 owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 over the last quarter. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Raymond James raised their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. The Goldman Sachs Group lifted their price objective on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Melius Research restated a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Thursday. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Apple Trading Down 0.3 %

Shares of AAPL opened at $228.20 on Friday. The firm has a fifty day simple moving average of $222.41 and a two-hundred day simple moving average of $200.19. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The stock has a market capitalization of $3.50 trillion, a P/E ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

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. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the prior year, the business posted $1.26 earnings per share. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 6.7 EPS for the current 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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.