Gordian Capital Singapore Pte Ltd Sells 2,425 Shares of Apple Inc. (NASDAQ:AAPL)

Gordian Capital Singapore Pte Ltd trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,524 shares of the iPhone maker’s stock after selling 2,425 shares during the period. Apple comprises 4.9% of Gordian Capital Singapore Pte Ltd’s holdings, making the stock its 8th largest position. Gordian Capital Singapore Pte Ltd’s holdings in Apple were worth $9,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Verus Financial Partners Inc. increased its stake in Apple by 0.3% during 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 during the last quarter. Brown Financial Advisory increased its stake 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 acquiring an additional 50 shares during the last quarter. Core Wealth Management Inc. increased its stake in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the last quarter. Lowery Thomas LLC increased its stake in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its stake in Apple by 1.1% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after acquiring an additional 51 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Citigroup raised their target price on Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius Research reaffirmed a “buy” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Raymond James lifted their price objective on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Two investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.51.

Insider Activity

In related news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction dated 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 owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 404,040 shares of company stock valued at $91,062,512. Insiders own 0.06% of the company’s stock.

Apple Stock Down 1.4 %

Shares of NASDAQ AAPL opened at $225.00 on Monday. The company has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. 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 50-day moving average of $227.04 and a two-hundred day moving average of $216.61. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the business earned $1.46 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts forecast 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 was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

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.