Element Pointe Advisors LLC Sells 613 Shares of Apple Inc. (NASDAQ:AAPL)

Element Pointe Advisors LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,171 shares of the iPhone maker’s stock after selling 613 shares during the quarter. Apple makes up approximately 1.0% of Element Pointe Advisors LLC’s investment portfolio, making the stock its 16th largest position. Element Pointe Advisors LLC’s holdings in Apple were worth $4,038,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fidelis Capital Partners LLC raised its holdings in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the last quarter. Access Investment Management LLC bought a new position in Apple in the 1st quarter valued at approximately $140,000. Hoese & Co LLP raised 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 buying an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple during the 2nd quarter valued at approximately $208,000. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock worth $93,021,362 over the last ninety days. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AAPL shares. Rosenblatt Securities increased their target price on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Maxim Group increased their target price 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. Tigress Financial raised their price objective on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Finally, Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and raised their price objective for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Price Performance

AAPL stock opened at $224.23 on Wednesday. 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 50 day moving average is $226.72 and its 200 day moving average is $215.06. The stock has a market cap of $3.39 trillion, a price-to-earnings ratio of 36.88, a price-to-earnings-growth 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 issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the business earned $1.46 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders 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 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.