Private Client Services LLC Has $4.65 Million Stake in Apple Inc. (NASDAQ:AAPL)

Private Client Services LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,068 shares of the iPhone maker’s stock after selling 183 shares during the quarter. Apple comprises about 2.9% of Private Client Services LLC’s portfolio, making the stock its 7th biggest holding. Private Client Services LLC’s holdings in Apple were worth $4,648,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Christopher J. Hasenberg Inc bought a new stake in shares of Apple during the 1st quarter valued at approximately $35,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Apple during the 4th quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. lifted its stake 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 valued at $82,000 after buying an additional 368 shares in the last quarter. Clarity Asset Management Inc. purchased a new stake in shares of Apple in the fourth quarter valued at about $85,000. Finally, Clear Street Markets LLC raised its stake in shares of Apple by 100.6% during the 4th quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock worth $93,000 after purchasing an additional 83,965 shares during the period. Institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 458,619 shares of company stock valued at $101,352,630. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.5 %

AAPL opened at $226.80 on Friday. The company has a market capitalization of $3.48 trillion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The firm has a 50-day simple moving average of $222.90 and a two-hundred day simple moving average of $204.06. 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 Inc. has a 52 week low of $164.07 and a 52 week high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.26 earnings per share. Analysts forecast that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AAPL. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Moffett Nathanson began coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Maxim Group reissued a “hold” rating and set a $203.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Melius Research reiterated a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Finally, StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $238.76.

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.