Cypress Funds LLC Sells 48,035 Shares of Apple Inc. (NASDAQ:AAPL)

Cypress Funds LLC lessened its stake in Apple Inc. (NASDAQ:AAPL) by 24.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 148,297 shares of the iPhone maker’s stock after selling 48,035 shares during the period. Apple comprises about 4.2% of Cypress Funds LLC’s portfolio, making the stock its 10th biggest position. Cypress Funds LLC’s holdings in Apple were worth $31,234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Fidelis Capital Partners LLC raised its holdings in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the last quarter. Access Investment Management LLC bought a new stake in Apple during the 1st quarter worth approximately $140,000. Hoese & Co LLP increased its holdings in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares in the last quarter. Benchmark Wealth Management LLC purchased a new stake in shares of Apple in the second quarter worth approximately $208,000. Finally, Compass Financial Group Inc. bought a new position in shares of Apple in the first quarter valued at approximately $210,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock worth $114,786,399 over the last quarter. 0.06% of the stock is currently owned by insiders.

Apple Trading Up 1.1 %

Apple stock opened at $233.85 on Wednesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The stock has a 50-day moving average price of $224.59 and a 200 day moving average price of $207.04. 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 company has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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. The firm had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 earnings per share. Sell-side analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent research reports. Oppenheimer reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 target price on shares of Apple in a report on Tuesday, September 10th. Moffett Nathanson initiated coverage on shares of Apple in a report on Monday, August 19th. They set a “neutral” rating and a $211.00 price target on the stock. Citigroup reiterated a “buy” rating and issued a $255.00 price objective on shares of Apple in a research note on Wednesday, October 2nd. Finally, Cfra boosted their target price on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $239.27.

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.