Apple Inc. (NASDAQ:AAPL) Shares Sold by Austin Asset Management Co Inc

Austin Asset Management Co Inc lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,933 shares of the iPhone maker’s stock after selling 305 shares during the period. Apple makes up about 1.2% of Austin Asset Management Co Inc’s portfolio, making the stock its 15th biggest position. Austin Asset Management Co Inc’s holdings in Apple were worth $5,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of 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 boosted its holdings in Apple by 6.7% in 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 last quarter. 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. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $50,275,897.56. Following the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock valued at $93,021,362 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $285.00 target price on shares of Apple in a research note on Monday, September 9th. Moffett Nathanson initiated coverage on Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price objective on the stock. 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, November 1st. Evercore ISI reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Finally, Barclays dropped their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Price Performance

AAPL stock opened at $227.48 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market capitalization of $3.44 trillion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The business has a 50 day simple moving average of $226.91 and a 200-day simple moving average of $213.51.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period in the prior year, the business earned $1.46 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date is Friday, November 8th. Apple’s payout ratio is currently 16.45%.

About Apple

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.