Vision Capital Management Inc. Sells 1,366 Shares of Apple Inc. (NASDAQ:AAPL)

Vision Capital Management Inc. trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,994 shares of the iPhone maker’s stock after selling 1,366 shares during the period. Apple accounts for 7.2% of Vision Capital Management Inc.’s holdings, making the stock its 3rd largest position. Vision Capital Management Inc.’s holdings in Apple were worth $48,231,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in AAPL. Bellwether Advisors LLC raised its position in shares of Apple by 387.3% in the 2nd 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 in the last quarter. Gentry Private Wealth LLC bought a new position in Apple in the second quarter valued at approximately $876,000. WT Asset Management Ltd acquired a new position in Apple during the second quarter valued at approximately $80,057,000. TD Asset Management Inc lifted its stake in 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 purchasing an additional 1,557,848 shares during the last quarter. Finally, Councilmark Asset Management LLC bought a new stake in Apple during the first quarter worth $11,776,000. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $231.41 on Monday. 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 fifty day simple moving average of $226.86 and a two-hundred day simple moving average of $210.64. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm has a market capitalization of $3.55 trillion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

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 company had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s dividend payout ratio is presently 15.55%.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 completion of the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction dated Monday, August 5th. The shares were 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 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 document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 517,924 shares of company stock valued at $114,786,399 over the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Robert W. Baird boosted their price target on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Thursday, September 26th. Tigress Financial lifted their price target on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research note on Thursday, October 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.91.

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.