Pacifica Capital Investments LLC Sells 200 Shares of Apple Inc. (NASDAQ:AAPL)

Pacifica Capital Investments LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,563 shares of the iPhone maker’s stock after selling 200 shares during the period. Apple accounts for 0.4% of Pacifica Capital Investments LLC’s portfolio, making the stock its 13th largest holding. Pacifica Capital Investments LLC’s holdings in Apple were worth $1,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Access Investment Management LLC acquired a new stake in Apple in the 1st quarter valued at about $140,000. Hoese & Co LLP grew its stake in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in shares of Apple during the second quarter valued at approximately $206,000. Benchmark Wealth Management LLC acquired a new stake in shares of Apple in the second quarter valued at approximately $208,000. Finally, Sequent Asset Management LLC bought a new position in Apple in the 2nd quarter worth approximately $214,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 price objective (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. The Goldman Sachs Group lifted their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and raised their target price for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, New Street Research reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research note 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $239.27.

Apple Price Performance

Shares of NASDAQ AAPL opened at $236.48 on Tuesday. The company has a fifty day moving average price of $226.16 and a 200 day moving average price of $208.86. The firm has a market cap of $3.63 trillion, a PE ratio of 36.78, a PEG ratio of 2.40 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm 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 0.42%. Apple’s dividend payout ratio is currently 15.55%.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Apple news, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred 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 directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock worth $114,786,399 over the last ninety days. 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.