Apple Inc. (NASDAQ:AAPL) Shares Sold by Hollencrest Capital Management

Hollencrest Capital Management lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,068,635 shares of the iPhone maker’s stock after selling 777 shares during the quarter. Apple makes up 9.9% of Hollencrest Capital Management’s investment portfolio, making the stock its 2nd largest holding. Hollencrest Capital Management’s holdings in Apple were worth $225,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Access Investment Management LLC purchased a new stake in Apple in the 1st quarter worth about $140,000. Hoese & Co LLP increased its holdings in shares of Apple by 6.7% in the 2nd 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. acquired a new position in shares of Apple in the 2nd quarter valued at about $206,000. Benchmark Wealth Management LLC purchased a new stake in shares of Apple in the second quarter worth approximately $208,000. Finally, SMH Capital Advisors Inc. acquired a new stake in shares of Apple during the second quarter worth approximately $209,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research analyst reports. Bank of America reiterated a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Finally, Cfra raised their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.51.

Apple Stock Performance

NASDAQ AAPL 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 50 day moving average of $226.91 and a 200-day moving average of $213.51. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a market cap of $3.44 trillion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.18 and a beta of 1.24.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s 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 transaction, the chief executive officer now 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 the SEC website. In other Apple news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction 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 sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 412,746 shares of company stock worth $93,021,362. Corporate insiders own 0.06% of the company’s stock.

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.