Apple Inc. (NASDAQ:AAPL) Shares Sold by Cheviot Value Management LLC

Cheviot Value Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,316 shares of the iPhone maker’s stock after selling 1,387 shares during the quarter. Apple makes up about 1.7% of Cheviot Value Management LLC’s portfolio, making the stock its 20th biggest holding. Cheviot Value Management LLC’s holdings in Apple were worth $8,702,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Access Investment Management LLC purchased a new stake in shares of Apple during the 1st quarter valued at approximately $140,000. Hoese & Co LLP increased its holdings in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in Apple in the second quarter valued at approximately $206,000. Benchmark Wealth Management LLC purchased a new stake in shares of Apple in the 2nd quarter valued at $208,000. Finally, SMH Capital Advisors Inc. acquired a new stake in shares of Apple during the second quarter worth about $209,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The trade was 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 through this link. In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 412,746 shares of company stock worth $93,021,362. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $285.00 price target on shares of Apple in a research report on Monday, September 9th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price target on shares of Apple in a report on Monday, September 9th. Rosenblatt Securities boosted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Maxim Group boosted their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Stock Down 1.2 %

AAPL stock opened at $224.23 on Tuesday. The firm has a market cap of $3.39 trillion, a PE ratio of 36.88, a P/E/G ratio of 2.22 and a beta of 1.24. The firm’s fifty day moving average is $226.82 and its 200 day moving average is $214.68. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is 16.45%.

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.