CMG Global Holdings LLC Sells 1,248 Shares of Apple Inc. (NASDAQ:AAPL)

CMG Global Holdings LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,885 shares of the iPhone maker’s stock after selling 1,248 shares during the period. Apple comprises approximately 4.4% of CMG Global Holdings LLC’s holdings, making the stock its 4th biggest position. CMG Global Holdings LLC’s holdings in Apple were worth $6,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of AAPL. Fidelis Capital Partners LLC boosted its holdings in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the period. Access Investment Management LLC bought a new position in Apple in the first quarter worth about $140,000. Hoese & Co LLP boosted its stake 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 acquiring an additional 57 shares during the period. Sage Financial Group Inc. acquired a new stake in shares of 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 worth approximately $208,000. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AAPL. Raymond James increased their price objective on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Maxim Group raised their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and upped their price objective for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Finally, The Goldman Sachs Group raised their target price on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $235.51.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on 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 in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the business’s 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 in the company, valued at $24,416,137.76. This represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,040 shares of company stock worth $91,062,512. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 1.4 %

AAPL stock opened at $225.00 on Friday. 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 company has a 50-day moving average of $226.96 and a two-hundred day moving average of $215.60. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49.

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

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is 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.