AlphaQ Advisors LLC Sells 9,629 Shares of Apple Inc. (NASDAQ:AAPL)

AlphaQ Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 89.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,193 shares of the iPhone maker’s stock after selling 9,629 shares during the quarter. Apple comprises 0.7% of AlphaQ Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. AlphaQ Advisors LLC’s holdings in Apple were worth $251,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Wright Investors Service Inc. boosted its holdings in Apple by 18.6% in the second quarter. Wright Investors Service Inc. now owns 81,506 shares of the iPhone maker’s stock worth $17,167,000 after acquiring an additional 12,755 shares in the last quarter. Fort Pitt Capital Group LLC boosted its holdings in Apple by 1.6% in the second quarter. Fort Pitt Capital Group LLC now owns 469,214 shares of the iPhone maker’s stock worth $98,826,000 after acquiring an additional 7,507 shares in the last quarter. Legend Financial Advisors Inc. boosted its holdings in Apple by 4.4% in the second quarter. Legend Financial Advisors Inc. now owns 8,917 shares of the iPhone maker’s stock worth $1,878,000 after acquiring an additional 376 shares in the last quarter. Evolution Advisers Inc. boosted its holdings in Apple by 1.7% in the second quarter. Evolution Advisers Inc. now owns 5,581 shares of the iPhone maker’s stock worth $1,175,000 after acquiring an additional 91 shares in the last quarter. Finally, Riversedge Advisors LLC boosted its holdings in Apple by 0.6% in the second quarter. Riversedge Advisors LLC now owns 91,862 shares of the iPhone maker’s stock worth $19,348,000 after acquiring an additional 510 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’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 completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 458,619 shares of company stock valued at $101,352,630 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on AAPL shares. Moffett Nathanson started coverage on Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Loop Capital upgraded Apple from a “hold” rating to a “buy” rating and boosted their price target for the stock from $170.00 to $300.00 in a research note on Monday, July 15th. Bank of America restated a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Thursday. Finally, DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.76.

Apple Stock Performance

Shares of AAPL opened at $226.80 on Friday. 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 business has a 50-day simple moving average of $222.90 and a two-hundred day simple moving average of $204.06. The stock 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. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s quarterly revenue 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, analysts expect that Apple Inc. will post 6.7 EPS for the current 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

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.