Weik Capital Management Sells 100 Shares of Apple Inc. (NASDAQ:AAPL)

Weik Capital Management decreased its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,762 shares of the iPhone maker’s stock after selling 100 shares during the period. Apple accounts for about 1.2% of Weik Capital Management’s holdings, making the stock its 24th biggest position. Weik Capital Management’s holdings in Apple were worth $2,898,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AAPL. Bellwether Advisors LLC raised its stake in 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 acquiring an additional 19,352 shares during the period. Gentry Private Wealth LLC bought a new stake in shares of Apple in the second quarter valued at approximately $876,000. WT Asset Management Ltd purchased a new stake in shares of Apple during the 2nd quarter valued at approximately $80,057,000. TD Asset Management Inc lifted its stake in shares of Apple by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after buying an additional 1,557,848 shares in the last quarter. Finally, Councilmark Asset Management LLC purchased a new position in Apple in the 1st quarter valued at approximately $11,776,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 1.3 %

NASDAQ:AAPL opened at $222.91 on Friday. The firm has a market capitalization of $3.39 trillion, a P/E ratio of 33.93, a P/E/G ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The company has a fifty day moving average of $227.18 and a 200 day moving average of $212.33. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.49 by $0.15. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 earnings per share. On average, research analysts predict that Apple Inc. will post 6.6 earnings per share for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 15.22%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of analyst reports. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price target on shares of Apple in a report on Monday, September 9th. Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Tuesday, September 10th. Tigress Financial upped their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. TD Cowen raised their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 target price on shares of Apple in a report on Tuesday, September 10th. Two investment 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 company. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $236.23.

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.