Essex LLC Sells 1,037 Shares of Apple Inc. (NASDAQ:AAPL)

Essex LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,575 shares of the iPhone maker’s stock after selling 1,037 shares during the quarter. Apple makes up 1.5% of Essex LLC’s investment portfolio, making the stock its 15th largest position. Essex LLC’s holdings in Apple were worth $6,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Foresight Capital Management Advisors Inc. grew its holdings in Apple by 0.3% during the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the period. Altus Wealth Management LLC lifted its position in shares of Apple by 0.6% during the 2nd quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock valued at $2,002,000 after buying an additional 55 shares in the last quarter. Hoese & Co LLP grew its stake in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. Stableford Capital II LLC increased its holdings in Apple by 0.3% in the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after acquiring an additional 59 shares in the last quarter. Finally, Whitcomb & Hess Inc. raised its stake in Apple by 1.7% during the 2nd quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock worth $746,000 after acquiring an additional 59 shares during the period. 60.41% of the stock is owned by institutional investors.

Apple Stock Performance

Apple stock opened at $228.20 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a market capitalization of $3.50 trillion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The company’s 50-day moving average is $222.41 and its 200 day moving average is $200.41.

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

Apple Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio is currently 15.55%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. Cfra boosted their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Tigress Financial increased their target price on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 price target (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction dated 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 completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred 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 completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value 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 approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,884 shares of company stock worth $23,723,887. Insiders own 0.06% of the company’s stock.

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.