Prime Capital Investment Advisors LLC Sells 142,296 Shares of Apple Inc. (NASDAQ:AAPL)

Prime Capital Investment Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 14.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 825,177 shares of the iPhone maker’s stock after selling 142,296 shares during the period. Apple comprises approximately 2.6% of Prime Capital Investment Advisors LLC’s investment portfolio, making the stock its 6th biggest position. Prime Capital Investment Advisors LLC’s holdings in Apple were worth $173,799,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Access Investment Management LLC bought a new stake in Apple during the 1st quarter worth approximately $140,000. Hoese & Co LLP lifted its holdings in shares of Apple by 6.7% during the second 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 period. Sage Financial Group Inc. bought a new stake in shares of Apple in the second quarter worth $206,000. Benchmark Wealth Management LLC acquired a new stake in Apple in the second quarter valued at $208,000. Finally, Sequent Asset Management LLC bought a new position in Apple during the 2nd quarter worth $214,000. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AAPL. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. New Street Research reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Melius Research restated a “buy” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday, August 27th. Barclays lowered their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.23.

Apple Stock Down 1.3 %

AAPL opened at $222.91 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The firm has a market capitalization of $3.39 trillion, a P/E ratio of 33.93, a PEG ratio of 2.45 and a beta of 1.24. The company’s 50-day moving average is $227.18 and its 200 day moving average is $212.33. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.49 by $0.15. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the firm earned $1.46 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. Research analysts expect that Apple Inc. will post 6.6 earnings per share for the current fiscal year.

Apple Dividend Announcement

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 given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio is currently 15.22%.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on 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 sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 in the last quarter. 0.06% of the stock is currently owned by company insiders.

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.