Journey Advisory Group LLC Sells 6,201 Shares of Apple Inc. (NASDAQ:AAPL)

Journey Advisory Group LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 164,252 shares of the iPhone maker’s stock after selling 6,201 shares during the quarter. Apple accounts for approximately 4.1% of Journey Advisory Group LLC’s investment portfolio, making the stock its 3rd biggest position. Journey Advisory Group LLC’s holdings in Apple were worth $34,595,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Capital International Investors boosted its holdings in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Apple by 1.7% in the 1st quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock valued at $5,061,296,000 after acquiring an additional 485,873 shares during the last quarter. Swedbank AB lifted its stake in shares of Apple by 13.4% in the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock valued at $4,214,222,000 after acquiring an additional 2,359,409 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Apple by 16.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock valued at $3,085,427,000 after acquiring an additional 2,594,138 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Apple by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock valued at $2,951,297,000 after acquiring an additional 415,186 shares during the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $235.00 on Friday. 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 stock has a 50-day moving average of $225.78 and a 200-day moving average of $208.11. The company has a market cap of $3.60 trillion, a PE ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 147.15% and a net margin of 26.44%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. On average, equities research analysts predict that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced 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 dividend yield of 0.43%. Apple’s payout ratio is 15.55%.

Insider Activity 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 transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 over the last 90 days. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AAPL. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Thursday, September 19th. Robert W. Baird increased their price target on Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price target on shares of Apple in a research note on Monday, September 9th. TD Cowen increased their price target on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 price target on shares of Apple in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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.