Apple Inc. (NASDAQ:AAPL) is Van Cleef Asset Management Inc’s 2nd Largest Position

Van Cleef Asset Management Inc decreased its stake in Apple Inc. (NASDAQ:AAPL) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 440,669 shares of the iPhone maker’s stock after selling 4,945 shares during the quarter. Apple makes up 11.6% of Van Cleef Asset Management Inc’s portfolio, making the stock its 2nd biggest holding. Van Cleef Asset Management Inc’s holdings in Apple were worth $92,814,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Evernest Financial Advisors LLC boosted its stake in Apple by 14.4% during the second quarter. Evernest Financial Advisors LLC now owns 37,939 shares of the iPhone maker’s stock valued at $7,991,000 after buying an additional 4,781 shares during the last quarter. AGF Management Ltd. boosted its holdings in Apple by 7.1% during the 2nd quarter. AGF Management Ltd. now owns 624,547 shares of the iPhone maker’s stock valued at $131,542,000 after acquiring an additional 41,661 shares during the period. Kinsale Capital Group Inc. boosted its holdings in Apple by 23.5% during the 2nd quarter. Kinsale Capital Group Inc. now owns 31,069 shares of the iPhone maker’s stock valued at $6,544,000 after acquiring an additional 5,905 shares during the period. GEM Asset Management LLC boosted its holdings in Apple by 2.5% during the 2nd quarter. GEM Asset Management LLC now owns 19,245 shares of the iPhone maker’s stock valued at $4,053,000 after acquiring an additional 471 shares during the period. Finally, Spectrum Wealth Advisory Group LLC raised its position in Apple by 0.8% during the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 26,009 shares of the iPhone maker’s stock valued at $5,478,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several recent research reports. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Piper Sandler Companies reiterated a “neutral” rating and set a $225.00 price target (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Barclays restated an “underweight” rating and issued a $186.00 target price on shares of Apple in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Thursday, September 19th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $235.91.

Apple Trading Up 0.9 %

AAPL opened at $233.40 on Tuesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The business has a fifty day simple moving average of $227.01 and a 200-day simple moving average of $211.05. The firm has a market cap of $3.58 trillion, a P/E ratio of 36.30, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last released its 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 firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. On average, equities analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

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

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction 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 transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 517,924 shares of company stock worth $114,786,399. Company insiders own 0.06% of the company’s stock.

About Apple

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.