Intact Investment Management Inc. Sells 2,320 Shares of Apple Inc. (NASDAQ:AAPL)

Intact Investment Management Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 42,980 shares of the iPhone maker’s stock after selling 2,320 shares during the quarter. Intact Investment Management Inc.’s holdings in Apple were worth $9,052,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC increased its stake in shares of Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Apple in the fourth quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. boosted its position in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after acquiring an additional 368 shares during the last quarter. Clarity Asset Management Inc. bought a new position in Apple during the fourth quarter valued at $85,000. Finally, Clear Street Markets LLC increased its holdings in shares of Apple by 100.6% in the 4th quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock worth $93,000 after buying an additional 83,965 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction 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 directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AAPL shares. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday. Rosenblatt Securities reissued a “buy” rating and issued a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and boosted their target price for the stock from $205.00 to $212.92 in a report on Monday. Finally, New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $229.04 on Friday. The firm’s 50 day moving average is $223.25 and its two-hundred day moving average is $205.14. 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 $3.51 trillion, a P/E ratio of 35.62, 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 released 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. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the firm earned $1.26 EPS. Apple’s revenue was up 4.9% on a year-over-year basis. Analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s payout ratio 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.