Crumly & Associates Inc. Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Crumly & Associates Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,768 shares of the iPhone maker’s stock after selling 164 shares during the period. Apple accounts for about 1.1% of Crumly & Associates Inc.’s portfolio, making the stock its 26th biggest position. Crumly & Associates Inc.’s holdings in Apple were worth $3,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of AAPL. Brown Financial Advisory increased its position in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. grew its stake in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the last quarter. Lowery Thomas LLC increased its position in Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after buying an additional 50 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. raised its stake in Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock valued at $949,000 after buying an additional 51 shares during the last quarter. Finally, Foresight Capital Management Advisors Inc. boosted its holdings in Apple by 0.3% in the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after acquiring an additional 55 shares in the last quarter. 60.41% of the stock is owned by institutional investors.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s 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 completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 value 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $235.00 on Monday. The stock has a market capitalization of $3.60 trillion, a PE ratio of 36.55, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a fifty day moving average of $225.78 and a two-hundred day moving average of $208.38. 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 Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 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 analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. As a group, research analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given 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 yield of 0.43%. Apple’s payout ratio is 15.55%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Tigress Financial increased their price objective on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. KeyCorp reaffirmed a “hold” rating and issued a $247.61 price target on shares of Apple in a report on Wednesday, August 28th. Morgan Stanley reissued an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. Raymond James raised their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Melius Research reiterated a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $239.27.

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.