Apple Inc. (NASDAQ:AAPL) Shares Sold by Full Sail Capital LLC

Full Sail Capital LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,581 shares of the iPhone maker’s stock after selling 402 shares during the quarter. Apple makes up 1.4% of Full Sail Capital LLC’s holdings, making the stock its 25th largest holding. Full Sail Capital LLC’s holdings in Apple were worth $20,131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Swedbank AB purchased a new stake in Apple in the 1st quarter worth about $3,026,492,000. Strategic Financial Concepts LLC lifted its position in shares of Apple by 14,145.8% in the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Apple by 158.3% during the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock worth $1,977,582,000 after purchasing an additional 7,067,379 shares during the period. Lazard Asset Management LLC grew its position in Apple by 161.2% during the first quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Apple in the 2nd quarter valued at approximately $834,368,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AAPL shares. Loop Capital lowered their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $260.00 target price on shares of Apple in a research note on Friday, November 1st. Bank of America reaffirmed a “buy” rating and set a $256.00 price target on shares of Apple in a research note on Thursday, October 3rd. New Street Research reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Finally, StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Insider Activity

In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated 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 directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 35.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,040 shares of company stock valued at $91,062,512 in the last 90 days. 0.06% of the stock is owned by company insiders.

Apple Price Performance

AAPL opened at $228.22 on Friday. 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 P/E ratio of 37.54, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The company’s 50 day simple moving average is $226.84 and its 200-day simple moving average is $215.52. 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 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. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company earned $1.46 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given 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 of this dividend was Friday, November 8th. Apple’s payout ratio is 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.