Next Level Private LLC Sells 21,420 Shares of Apple Inc. (NASDAQ:AAPL)

Next Level Private LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 40.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,875 shares of the iPhone maker’s stock after selling 21,420 shares during the quarter. Apple makes up approximately 3.1% of Next Level Private LLC’s portfolio, making the stock its 9th biggest position. Next Level Private LLC’s holdings in Apple were worth $6,713,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fidelis Capital Partners LLC lifted its position in Apple by 17.9% during 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 period. Access Investment Management LLC purchased a new stake in shares of Apple during the first quarter worth approximately $140,000. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Benchmark Wealth Management LLC purchased a new position in Apple in the 2nd quarter valued at $208,000. Finally, Compass Financial Group Inc. purchased a new position in Apple in the 1st quarter valued at $210,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was 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 owns 24,125 shares in the company, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 over the last quarter. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AAPL shares. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Sanford C. Bernstein increased their price target on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Loop Capital raised Apple from a “hold” rating to a “buy” rating and lifted their price objective for the company from $170.00 to $300.00 in a report on Monday, July 15th. Melius Research reiterated a “buy” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Finally, Citigroup reissued a “buy” rating and issued a $255.00 price target on shares of Apple in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

Apple Price Performance

NASDAQ:AAPL opened at $232.15 on Friday. The firm has a market cap of $3.56 trillion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company’s 50-day moving average is $225.41 and its two-hundred day moving average is $207.39.

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, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion for 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 company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 earnings per share. Research analysts expect that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

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