Heron Bay Capital Management Sells 35,304 Shares of Apple Inc. (NASDAQ:AAPL)

Heron Bay Capital Management reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 40.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,509 shares of the iPhone maker’s stock after selling 35,304 shares during the period. Apple comprises 2.3% of Heron Bay Capital Management’s investment portfolio, making the stock its 16th largest holding. Heron Bay Capital Management’s holdings in Apple were worth $10,849,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Quest Investment Management LLC boosted its position in shares of Apple by 31.7% during the second quarter. Quest Investment Management LLC now owns 308,533 shares of the iPhone maker’s stock valued at $64,983,000 after buying an additional 74,304 shares during the last quarter. Frank Rimerman Advisors LLC lifted its stake in Apple by 363.0% in the second quarter. Frank Rimerman Advisors LLC now owns 352,061 shares of the iPhone maker’s stock valued at $74,151,000 after purchasing an additional 276,020 shares during the last quarter. Kowal Investment Group LLC boosted its position in Apple by 1.4% during the second quarter. Kowal Investment Group LLC now owns 47,464 shares of the iPhone maker’s stock worth $9,997,000 after purchasing an additional 648 shares during the period. Lavaca Capital LLC lifted its position in shares of Apple by 1.1% during the second quarter. Lavaca Capital LLC now owns 43,413 shares of the iPhone maker’s stock worth $9,144,000 after acquiring an additional 483 shares in the last quarter. Finally, Connecticut Wealth Management LLC lifted its holdings in Apple by 0.3% during the 2nd quarter. Connecticut Wealth Management LLC now owns 110,175 shares of the iPhone maker’s stock worth $23,205,000 after purchasing an additional 366 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. Melius Research reissued a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a report on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and set a $285.00 price target on shares of Apple in a research note on Monday, September 9th. New Street Research restated a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Finally, Moffett Nathanson assumed coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $235.51.

Insider Buying and Selling

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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock valued at $93,021,362 in the last ninety days. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of AAPL opened at $226.96 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The stock has a market cap of $3.43 trillion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The firm’s 50-day simple moving average is $226.82 and its two-hundred day simple moving average is $214.03. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

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

Apple Dividend Announcement

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