Narwhal Capital Management Sells 7,549 Shares of Apple Inc. (NASDAQ:AAPL)

Narwhal Capital Management lessened its position in Apple Inc. (NASDAQ:AAPL) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 270,080 shares of the iPhone maker’s stock after selling 7,549 shares during the period. Apple makes up about 5.4% of Narwhal Capital Management’s investment portfolio, making the stock its 4th biggest holding. Narwhal Capital Management’s holdings in Apple were worth $56,884,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bellwether Advisors LLC boosted its holdings in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after buying an additional 19,352 shares during the period. WT Asset Management Ltd bought a new stake in shares of Apple in the second quarter valued at about $80,057,000. Councilmark Asset Management LLC bought a new stake in shares of Apple in the first quarter valued at about $11,776,000. TD Asset Management Inc boosted its position in shares of Apple by 10.3% during the second quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after buying an additional 1,557,848 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Apple by 62.0% during the second quarter. Larson Financial Group LLC now owns 151,991 shares of the iPhone maker’s stock worth $32,012,000 after buying an additional 58,153 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 100,000 shares of the 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 sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock valued at $114,786,399 in the last three months. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $235.86 on Wednesday. The firm has a market capitalization of $3.62 trillion, a price-to-earnings ratio of 36.68, 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. The business’s 50-day moving average price is $226.46 and its 200-day moving average price is $209.33. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPL) last posted its 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. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same period last year, the company earned $1.26 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Apple Inc. will post 6.65 EPS for the current 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 issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. Apple’s payout ratio is 15.55%.

Analyst Ratings Changes

A number of brokerages have recently commented on AAPL. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Rosenblatt Securities reiterated a “buy” rating and set a $261.00 target price on shares of Apple in a report on Tuesday, September 10th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. TD Cowen increased their price objective on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Wedbush reaffirmed an “outperform” rating and set a $285.00 price target on shares of Apple in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus target price of $239.27.

Apple Company 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.