Apple Inc. (NASDAQ:AAPL) is Raab & Moskowitz Asset Management LLC’s Largest Position

Raab & Moskowitz Asset Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,396 shares of the iPhone maker’s stock after selling 1,793 shares during the period. Apple makes up approximately 5.1% of Raab & Moskowitz Asset Management LLC’s holdings, making the stock its largest holding. Raab & Moskowitz Asset Management LLC’s holdings in Apple were worth $18,829,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Access Investment Management LLC purchased a new stake in shares of Apple in the first quarter worth about $140,000. Hoese & Co LLP boosted 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 purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in Apple during the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC purchased a new position in shares of Apple during the 2nd quarter valued at approximately $208,000. Finally, SMH Capital Advisors Inc. acquired a new stake in shares of Apple during the second quarter worth approximately $209,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 35.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,040 shares of company stock worth $91,062,512. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AAPL shares. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and upped their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Wedbush reissued an “outperform” rating and issued a $285.00 price objective on shares of Apple in a report on Monday, September 9th. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Moffett Nathanson assumed coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price for the company. Finally, KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Trading Up 1.4 %

Apple stock opened at $228.22 on Friday. The firm has a 50 day simple moving average of $226.84 and a 200-day simple moving average of $215.52. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market capitalization of $3.45 trillion, a PE ratio of 37.54, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is currently 16.45%.

Apple Company 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.