Apple Inc. (NASDAQ:AAPL) Stock Position Decreased by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 720,902 shares of the iPhone maker’s stock after selling 7,659 shares during the quarter. Apple comprises 5.7% of Clifford Swan Investment Counsel LLC’s holdings, making the stock its largest position. Clifford Swan Investment Counsel LLC’s holdings in Apple were worth $151,709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Verus Financial Partners Inc. boosted its position in shares of Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares during the period. Brown Financial Advisory lifted its position in Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. lifted its position in Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares during the period. Lowery Thomas LLC lifted its position in Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. lifted its position in Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.4 %

NASDAQ AAPL opened at $231.41 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year 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 has a market capitalization of $3.55 trillion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The firm’s fifty day simple moving average is $226.86 and its 200-day simple moving average is $210.34.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results 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. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the prior year, the business posted $1.26 earnings per share. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

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

Insider Transactions at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. 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 link. In related news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. 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 link. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents 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 have sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Evercore ISI restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Melius Research restated a “buy” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Barclays restated an “underweight” rating and issued a $186.00 target price on shares of Apple in a research report on Tuesday, October 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.91.

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.