Dimension Capital Management LLC Sells 2,437 Shares of Apple Inc. (NASDAQ:AAPL)

Dimension Capital Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 9.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,001 shares of the iPhone maker’s stock after selling 2,437 shares during the period. Apple comprises 1.0% of Dimension Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding. Dimension Capital Management LLC’s holdings in Apple were worth $4,845,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Fidelis Capital Partners LLC raised its position in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares during the last quarter. Access Investment Management LLC acquired a new stake in Apple during the 1st quarter valued at approximately $140,000. Hoese & Co LLP raised its holdings in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new position in Apple during the 2nd quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in shares of Apple in the 2nd quarter valued at $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AAPL. Wedbush reissued an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Raymond James increased their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Barclays cut their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note on Friday, November 1st. Finally, Oppenheimer reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Two equities 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.51.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,040 shares of company stock valued at $91,062,512. Company insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $225.12 on Thursday. 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 business has a fifty day simple moving average of $226.75 and a two-hundred day simple moving average of $215.45. The company has a market capitalization of $3.40 trillion, a P/E ratio of 37.03, a P/E/G ratio of 2.20 and a beta of 1.24.

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 $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 EPS. On average, analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a dividend of $0.25 per share. 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 payout ratio is currently 16.45%.

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.