Apple Inc. (NASDAQ:AAPL) Shares Sold by Connective Capital Management LLC

Connective Capital Management LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,295 shares of the iPhone maker’s stock after selling 2,061 shares during the quarter. Apple makes up approximately 9.6% of Connective Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Connective Capital Management LLC’s holdings in Apple were worth $5,328,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Granite Investment Partners LLC increased its position in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the period. Bellwether Advisors LLC boosted its stake in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC acquired a new stake in shares of Apple during the second quarter worth $876,000. Independent Advisor Alliance raised its stake in Apple by 0.9% during the second quarter. Independent Advisor Alliance now owns 920,737 shares of the iPhone maker’s stock worth $193,926,000 after buying an additional 8,028 shares during the last quarter. Finally, WT Asset Management Ltd acquired a new position in Apple in the second quarter valued at $80,057,000. Institutional investors own 60.41% of the company’s stock.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. 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. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. Maxim Group raised their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. UBS Group boosted their price target on Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday. Raymond James lifted their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Stock Down 1.4 %

Shares of NASDAQ AAPL opened at $225.00 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 $3.40 trillion, a PE ratio of 37.01, a P/E/G ratio of 2.21 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The business’s fifty day moving average price is $226.96 and its 200-day moving average price is $215.60.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion for 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%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 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.