Quarry Hill Advisors LLC Sells 254 Shares of Apple Inc. (NASDAQ:AAPL)

Quarry Hill Advisors LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,117 shares of the iPhone maker’s stock after selling 254 shares during the quarter. Quarry Hill Advisors LLC’s holdings in Apple were worth $656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of AAPL. Addison Advisors LLC grew its stake in shares of Apple by 1.3% in the 2nd quarter. Addison Advisors LLC now owns 28,725 shares of the iPhone maker’s stock valued at $6,050,000 after buying an additional 382 shares during the period. Artemis Wealth Advisors LLC raised its stake in Apple by 24.7% during the 2nd quarter. Artemis Wealth Advisors LLC now owns 48,809 shares of the iPhone maker’s stock worth $10,280,000 after buying an additional 9,680 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in Apple by 0.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 462,890 shares of the iPhone maker’s stock worth $97,494,000 after acquiring an additional 1,319 shares in the last quarter. Synergy Asset Management LLC grew its stake in Apple by 3.8% in the second quarter. Synergy Asset Management LLC now owns 118,904 shares of the iPhone maker’s stock valued at $25,044,000 after acquiring an additional 4,365 shares during the period. Finally, Slocum Gordon & Co LLP increased its holdings in shares of Apple by 3.6% during the second quarter. Slocum Gordon & Co LLP now owns 8,536 shares of the iPhone maker’s stock valued at $1,798,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of the firm’s 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 completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction 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 sale, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock worth $114,786,399 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AAPL. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and lifted their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Citigroup reissued a “buy” rating and set a $255.00 target price on shares of Apple in a research report on Wednesday, October 2nd. Cfra raised their price target on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, Loop Capital raised their target price on Apple to $300.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two 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 presently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Stock Up 0.6 %

AAPL stock opened at $236.48 on Tuesday. The stock has a fifty day moving average of $226.16 and a 200-day moving average of $208.86. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a market capitalization of $3.63 trillion, a price-to-earnings ratio of 36.78, a PEG ratio of 2.40 and a beta of 1.24. 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 earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.26 earnings per share. As a group, equities research analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid 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 0.42%. Apple’s dividend payout ratio is 15.55%.

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.