Dundas Partners LLP Sells 21,242 Shares of Apple Inc. (NASDAQ:AAPL)

Dundas Partners LLP lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 14.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 122,222 shares of the iPhone maker’s stock after selling 21,242 shares during the period. Apple makes up about 2.0% of Dundas Partners LLP’s portfolio, making the stock its 26th largest holding. Dundas Partners LLP’s holdings in Apple were worth $25,743,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Verus Financial Partners Inc. increased its stake in shares of Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory increased its stake in shares of Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares in the last quarter. Core Wealth Management Inc. increased its stake in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after purchasing an additional 50 shares in the last quarter. Lowery Thomas LLC increased its stake in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its stake in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ AAPL opened at $224.23 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The firm has a market capitalization of $3.39 trillion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The firm has a fifty day simple moving average of $226.72 and a two-hundred day simple moving average of $215.06.

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

Apple Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, November 8th. Apple’s payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AAPL. Wedbush reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. TD Cowen boosted their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research note on Friday, October 25th. StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Citigroup boosted their price objective on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two research 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’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Insider Activity

In other news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’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 sale, the chief executive officer now directly owns 3,280,180 shares in the company, 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 have sold a total of 412,746 shares of company stock valued at $93,021,362 in the last 90 days. 0.06% of the stock is currently owned by insiders.

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.