Apple Inc. (NASDAQ:AAPL) Shares Sold by Jessup Wealth Management Inc

Jessup Wealth Management Inc cut its position in Apple Inc. (NASDAQ:AAPL) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,433 shares of the iPhone maker’s stock after selling 3,531 shares during the period. Apple accounts for 9.1% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 2nd largest holding. Jessup Wealth Management Inc’s holdings in Apple were worth $21,364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tenon Financial LLC boosted its holdings in Apple by 19.8% in the second quarter. Tenon Financial LLC now owns 3,370 shares of the iPhone maker’s stock valued at $710,000 after purchasing an additional 557 shares in the last quarter. Meixler Investment Management Ltd. lifted its position in shares of Apple by 22.3% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,763 shares of the iPhone maker’s stock worth $371,000 after buying an additional 322 shares during the last quarter. West Bancorporation Inc. boosted its holdings in shares of Apple by 2.9% in the 2nd quarter. West Bancorporation Inc. now owns 14,936 shares of the iPhone maker’s stock valued at $3,146,000 after buying an additional 427 shares in the last quarter. Simmons Bank grew its position in shares of Apple by 1.7% in the 2nd quarter. Simmons Bank now owns 130,555 shares of the iPhone maker’s stock valued at $27,498,000 after buying an additional 2,231 shares during the last quarter. Finally, ABLE Financial Group LLC raised its stake in Apple by 1.1% during the 2nd quarter. ABLE Financial Group LLC now owns 43,639 shares of the iPhone maker’s stock worth $9,191,000 after acquiring an additional 460 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the subject of several research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Cfra raised their price target on Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 price objective (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Finally, Maxim Group reaffirmed a “hold” rating and issued a $203.00 target price on shares of Apple in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $238.76.

Apple Stock Up 0.5 %

AAPL opened at $226.80 on Friday. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.66 and a beta of 1.24. The business’s fifty day moving average is $222.90 and its two-hundred day moving average is $203.86. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

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

Apple Dividend Announcement

The firm also recently disclosed 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 was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 458,619 shares of company stock worth $101,352,630 in the last ninety days. Insiders own 0.06% of the company’s stock.

Apple 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.