Crescent Grove Advisors LLC Sells 21,449 Shares of Apple Inc. (NASDAQ:AAPL)

Crescent Grove Advisors LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 20.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,189 shares of the iPhone maker’s stock after selling 21,449 shares during the quarter. Apple makes up approximately 1.9% of Crescent Grove Advisors LLC’s holdings, making the stock its 13th biggest holding. Crescent Grove Advisors LLC’s holdings in Apple were worth $17,311,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Christopher J. Hasenberg Inc bought a new position in shares of Apple during the first quarter worth about $35,000. Fidelis Capital Partners LLC increased its holdings in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple during the 4th quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. lifted its position in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in Apple in the 4th quarter valued at $85,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Down 0.3 %

Apple stock opened at $228.20 on Monday. The stock has a 50-day moving average price of $222.41 and a 200 day moving average price of $200.41. The company has a market capitalization of $3.50 trillion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. 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.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s payout ratio is 15.55%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and boosted their price target for the company from $170.00 to $300.00 in a research note on Monday, July 15th. TD Cowen lifted their target price on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Melius Research reiterated a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Wedbush reiterated an “outperform” rating and issued a $285.00 target price on shares of Apple in a report on Monday, September 9th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 target price on shares of Apple in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

Insider Buying and Selling at Apple

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

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.