Apple Inc. (NASDAQ:AAPL) Stock Position Cut by MayTech Global Investments LLC

MayTech Global Investments LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,848 shares of the iPhone maker’s stock after selling 10,267 shares during the period. Apple accounts for approximately 5.4% of MayTech Global Investments LLC’s investment portfolio, making the stock its 5th biggest holding. MayTech Global Investments LLC’s holdings in Apple were worth $36,195,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC lifted its stake in Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after acquiring an additional 31,278 shares during the period. Access Investment Management LLC purchased a new position in shares of Apple during the first quarter worth $140,000. Hoese & Co LLP lifted its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. purchased a new stake in Apple in the second quarter valued at $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple during the 2nd quarter worth about $208,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

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

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts anticipate that Apple Inc. will post 6.6 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 15.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Cfra boosted their price objective on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Evercore ISI reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. TD Cowen upped their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Maxim Group lifted their target price on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday. Finally, Raymond James boosted their target price on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $236.23.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on 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 directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. 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 accessible through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of the 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 completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, 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, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction 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 approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 517,924 shares of company stock valued at $114,786,399. 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.