Apple Inc. (NASDAQ:AAPL) Shares Sold by Front Street Capital Management Inc.

Front Street Capital Management Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,397 shares of the iPhone maker’s stock after selling 376 shares during the period. Apple makes up 1.3% of Front Street Capital Management Inc.’s portfolio, making the stock its 20th biggest position. Front Street Capital Management Inc.’s holdings in Apple were worth $7,035,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC grew its position in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares in the last quarter. Access Investment Management LLC acquired a new position in Apple during the 1st quarter valued at about $140,000. Hoese & Co LLP grew its holdings in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Sage Financial Group Inc. acquired a new position in shares of Apple during the second quarter valued at $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in Apple during the 2nd quarter valued at about $208,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AAPL. Wedbush restated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a report on Monday, September 9th. Barclays reduced their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Melius Research reissued a “buy” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Robert W. Baird increased their price objective on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, TD Cowen lifted their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Insider Buying and Selling

In related news, insider Chris Kondo sold 8,706 shares of the business’s 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 in the company, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 412,746 shares of company stock worth $93,021,362. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of AAPL opened at $224.23 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company’s fifty day simple moving average is $226.82 and its 200 day simple moving average is $214.68. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 36.88, a PEG ratio of 2.22 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

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

Apple Announces Dividend

The business 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

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.