Ayalon Insurance Comp Ltd. Reduces Position in Apple Inc. (NASDAQ:AAPL)

Ayalon Insurance Comp Ltd. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,503 shares of the iPhone maker’s stock after selling 1,128 shares during the quarter. Apple makes up 2.7% of Ayalon Insurance Comp Ltd.’s portfolio, making the stock its 12th biggest holding. Ayalon Insurance Comp Ltd.’s holdings in Apple were worth $8,320,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Elser Financial Planning Inc acquired a new stake in Apple in the 2nd quarter worth about $5,271,000. Fifth Third Wealth Advisors LLC increased its stake in shares of Apple by 174.4% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 243,613 shares of the iPhone maker’s stock valued at $51,310,000 after acquiring an additional 154,841 shares during the last quarter. Orgel Wealth Management LLC lifted its holdings in shares of Apple by 4.4% during the 2nd quarter. Orgel Wealth Management LLC now owns 8,495 shares of the iPhone maker’s stock worth $1,789,000 after acquiring an additional 359 shares during the period. Iron Horse Wealth Management LLC boosted its position in shares of Apple by 16.5% in the second quarter. Iron Horse Wealth Management LLC now owns 4,571 shares of the iPhone maker’s stock worth $963,000 after acquiring an additional 647 shares during the last quarter. Finally, Legacy CG LLC grew its holdings in Apple by 7.1% in the second quarter. Legacy CG LLC now owns 25,191 shares of the iPhone maker’s stock valued at $5,306,000 after purchasing an additional 1,670 shares during the period. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Down 0.3 %

AAPL stock opened at $228.20 on Monday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The business’s 50 day simple moving average is $222.41 and its 200 day simple moving average is $200.41. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.50 trillion, a PE ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $1.26 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insider Buying and Selling

In other news, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock valued at $23,723,887 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of research analyst reports. Sanford C. Bernstein upped their price objective on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Barclays dropped their price target on Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Moffett Nathanson began coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective on the stock. The Goldman Sachs Group increased their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Citigroup reaffirmed a “buy” rating and set a $255.00 price target on shares of Apple in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.17.

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.