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

Wallace Capital Management Inc. lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,021 shares of the iPhone maker’s stock after selling 450 shares during the quarter. Apple makes up about 0.3% of Wallace Capital Management Inc.’s holdings, making the stock its 25th largest holding. Wallace Capital Management Inc.’s holdings in Apple were worth $2,532,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Verus Financial Partners Inc. raised its position in 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 acquiring an additional 48 shares in the last quarter. Brown Financial Advisory boosted its position in Apple by 3.8% during 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. grew its holdings in Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the last quarter. Lowery Thomas LLC increased its holdings in Apple by 0.7% during the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after acquiring an additional 50 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. lifted its holdings 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 valued at $949,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

NASDAQ AAPL opened at $225.00 on Friday. The stock has a market cap of $3.40 trillion, a PE ratio of 37.01, a P/E/G ratio of 2.21 and a beta of 1.24. 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 Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The firm has a 50-day moving average of $226.96 and a 200-day moving average of $215.60.

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

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Transactions at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was 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 directly owns 187,043 shares in the company, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 404,040 shares of company stock worth $91,062,512. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of analyst reports. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. UBS Group upped their target price on Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday. New Street Research reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Raymond James raised their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, TD Cowen raised their price target on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.51.

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.