Bigelow Investment Advisors LLC Sells 188 Shares of Apple Inc. (NASDAQ:AAPL)

Bigelow Investment Advisors LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,419 shares of the iPhone maker’s stock after selling 188 shares during the quarter. Apple accounts for 2.9% of Bigelow Investment Advisors LLC’s portfolio, making the stock its 4th largest holding. Bigelow Investment Advisors LLC’s holdings in Apple were worth $5,986,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Access Investment Management LLC bought a new position in Apple in the 1st quarter worth approximately $140,000. Hoese & Co LLP raised its position in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter worth approximately $206,000. Benchmark Wealth Management LLC bought a new position in Apple in the 2nd quarter worth 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.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group reaffirmed a “hold” rating and set a $236.00 target price on shares of Apple in a report on Wednesday, October 16th. Loop Capital lifted their target price on shares of Apple to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 target price (up previously from $190.00) on shares of Apple in a report on Tuesday, July 9th. Rosenblatt Securities lifted their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday. Finally, Robert W. Baird lifted their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.23.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents 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. Also, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by insiders.

Apple Stock Down 1.3 %

Shares of AAPL stock opened at $222.91 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49. The stock’s fifty day moving average price is $227.18 and its 200 day moving average price is $212.03. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 33.93, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.15. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 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 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 EPS. On average, research analysts expect that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 11th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s payout ratio is presently 15.22%.

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.