Global Financial Private Client LLC Sells 83 Shares of Apple Inc. (NASDAQ:AAPL)

Global Financial Private Client LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,609 shares of the iPhone maker’s stock after selling 83 shares during the quarter. Apple comprises about 6.2% of Global Financial Private Client LLC’s investment portfolio, making the stock its biggest position. Global Financial Private Client LLC’s holdings in Apple were worth $14,872,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Apple by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock worth $253,766,929,000 after acquiring an additional 18,067,216 shares during the last quarter. Wellington Management Group LLP lifted its stake in Apple by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after purchasing an additional 2,096,360 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Apple by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after purchasing an additional 1,067,587 shares during the last quarter. Capital International Investors lifted its stake in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AAPL. The Goldman Sachs Group raised their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Melius Research restated a “buy” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Oppenheimer reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and raised their target price for the company from $205.00 to $212.92 in a research note on Monday. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Stock Up 1.8 %

NASDAQ:AAPL opened at $225.77 on Wednesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market cap of $3.46 trillion, a PE ratio of 35.11, a PEG ratio of 2.66 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The stock has a 50-day simple moving average of $222.96 and a 200 day simple moving average of $204.59.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (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 business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the company earned $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given 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 yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was 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 directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock valued at $114,786,399. 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.