Apple Inc. (NASDAQ:AAPL) Shares Sold by Byrne Asset Management LLC

Byrne Asset Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,154 shares of the iPhone maker’s stock after selling 148 shares during the period. Apple comprises approximately 5.1% of Byrne Asset Management LLC’s holdings, making the stock its 2nd largest holding. Byrne Asset Management LLC’s holdings in Apple were worth $7,098,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Elser Financial Planning Inc acquired a new position in Apple in the second quarter valued at approximately $5,271,000. Fifth Third Wealth Advisors LLC boosted its position in 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 purchasing an additional 154,841 shares during the period. Orgel Wealth Management LLC grew its stake in 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 buying an additional 359 shares during the last quarter. Iron Horse Wealth Management LLC increased its position in 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 buying an additional 647 shares during the period. Finally, Legacy CG LLC lifted its stake 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 buying an additional 1,670 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the topic of a number of analyst reports. Maxim Group reaffirmed a “hold” rating and issued a $203.00 price objective on shares of Apple in a report on Tuesday, September 10th. Raymond James increased their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. Bank of America restated a “buy” rating and issued a $256.00 price target on shares of Apple in a research report on Thursday, September 5th. Finally, Wedbush reissued an “outperform” rating and set a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Apple Price Performance

NASDAQ AAPL opened at $226.47 on Tuesday. 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 stock has a market capitalization of $3.47 trillion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a 50 day moving average price of $222.25 and a two-hundred day moving average price of $200.82.

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

Apple Dividend Announcement

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

Insider Activity

In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,884 shares of company stock valued at $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.