Peloton Wealth Strategists Sells 290 Shares of Apple Inc. (NASDAQ:AAPL)

Peloton Wealth Strategists reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,359 shares of the iPhone maker’s stock after selling 290 shares during the quarter. Peloton Wealth Strategists’ holdings in Apple were worth $497,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Access Investment Management LLC acquired a new position in Apple in the first quarter valued at approximately $140,000. Hoese & Co LLP lifted its holdings in Apple by 6.7% in the second 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 period. Sage Financial Group Inc. acquired a new position in Apple in the second quarter valued at approximately $206,000. Benchmark Wealth Management LLC acquired a new position in Apple in the second quarter valued at approximately $208,000. Finally, SMH Capital Advisors Inc. acquired a new position in Apple in the second quarter valued at approximately $209,000. 60.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction 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 approximately $111,148,695.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Apple news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 404,040 shares of company stock valued at $91,062,512. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $225.12 on Thursday. The company has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.03, a PEG ratio of 2.20 and a beta of 1.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a 50-day simple moving average of $226.75 and a 200 day simple moving average of $215.45. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is 16.45%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Melius Research reiterated a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Rosenblatt Securities increased their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Friday, November 1st. Finally, Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and increased their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average price target of $235.51.

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.