Signature Resources Capital Management LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Signature Resources Capital Management LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,633 shares of the iPhone maker’s stock after selling 335 shares during the quarter. Apple accounts for 0.8% of Signature Resources Capital Management LLC’s portfolio, making the stock its 16th biggest holding. Signature Resources Capital Management LLC’s holdings in Apple were worth $976,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Apple by 3.3% in the 2nd quarter. McGlone Suttner Wealth Management Inc. now owns 21,710 shares of the iPhone maker’s stock worth $4,180,000 after buying an additional 698 shares during the period. Franklin Street Advisors Inc. NC lifted its holdings in shares of Apple by 9.8% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 459,427 shares of the iPhone maker’s stock worth $96,765,000 after buying an additional 40,834 shares during the period. Well Done LLC lifted its holdings in shares of Apple by 0.6% in the 2nd quarter. Well Done LLC now owns 29,168 shares of the iPhone maker’s stock worth $6,143,000 after buying an additional 177 shares during the period. Spectrum Planning & Advisory Services Inc. purchased a new stake in shares of Apple in the 2nd quarter worth $787,000. Finally, Refined Wealth Management lifted its holdings in shares of Apple by 3.1% in the 2nd quarter. Refined Wealth Management now owns 12,639 shares of the iPhone maker’s stock worth $2,662,000 after buying an additional 384 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity

In other news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were 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 approximately $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Down 2.8 %

Shares of AAPL opened at $216.32 on Tuesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.62 and a beta of 1.24. The stock’s 50-day moving average price is $222.91 and its 200-day moving average price is $199.00.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. Apple’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 earnings per share. On average, sell-side analysts predict that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Analysts Set New Price Targets

Several brokerages have weighed in on AAPL. The Goldman Sachs Group upped their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Maxim Group restated a “hold” rating and set a $203.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Oppenheimer restated an “outperform” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Finally, Rosenblatt Securities restated a “buy” rating and set a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $239.17.

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.