Apple Inc. (NASDAQ:AAPL) is Hutchinson Capital Management CA’s 2nd Largest Position

Hutchinson Capital Management CA decreased its position in Apple Inc. (NASDAQ:AAPL) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,834 shares of the iPhone maker’s stock after selling 2,751 shares during the quarter. Apple accounts for approximately 6.5% of Hutchinson Capital Management CA’s portfolio, making the stock its 2nd largest position. Hutchinson Capital Management CA’s holdings in Apple were worth $31,979,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Chesapeake Capital Corp IL acquired a new stake in shares of Apple during the second quarter worth about $690,000. Provident Investment Management Inc. lifted its holdings in Apple by 26.0% during the 2nd quarter. Provident Investment Management Inc. now owns 9,099 shares of the iPhone maker’s stock worth $1,916,000 after buying an additional 1,877 shares in the last quarter. Sachetta LLC boosted its position in Apple by 0.8% in the 2nd quarter. Sachetta LLC now owns 33,016 shares of the iPhone maker’s stock valued at $7,224,000 after buying an additional 260 shares during the period. Bright Futures Wealth Management LLC. grew its stake in shares of Apple by 0.8% in the second quarter. Bright Futures Wealth Management LLC. now owns 39,672 shares of the iPhone maker’s stock worth $8,722,000 after acquiring an additional 304 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its stake in shares of Apple by 9.1% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 190,739 shares of the iPhone maker’s stock worth $40,173,000 after acquiring an additional 15,851 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on AAPL. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Citigroup boosted their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Barclays reiterated an “underweight” rating and issued a $186.00 price target on shares of Apple in a research note on Tuesday, October 1st. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.91.

Insiders Place Their Bets

In other news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Apple stock opened at $231.41 on Monday. 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 business has a 50 day simple moving average of $226.86 and a 200-day simple moving average of $210.64. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock 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.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion during 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%. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. Equities analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

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

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.