Apple Inc. (NASDAQ:AAPL) Position Trimmed by Monarch Capital Management Inc.

Monarch Capital Management Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,883 shares of the iPhone maker’s stock after selling 678 shares during the quarter. Apple makes up 3.4% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Monarch Capital Management Inc.’s holdings in Apple were worth $11,468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AAPL. Castleview Partners LLC purchased a new position in Apple during the 4th quarter valued at about $19,344,000. Carmel Capital Management L.L.C. purchased a new position in Apple during the 4th quarter valued at about $14,341,000. SPRINGS CAPITAL HONG KONG Ltd purchased a new position in Apple during the 4th quarter valued at about $710,000. Virtu Financial LLC purchased a new position in Apple during the 4th quarter valued at about $2,244,000. Finally, Jaffetilchin Investment Partners LLC grew its stake in Apple by 1.1% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 320,674 shares of the iPhone maker’s stock valued at $56,942,000 after acquiring an additional 3,448 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $142.99 on Friday. The business has a fifty day simple moving average of $156.70 and a 200 day simple moving average of $153.91. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.73 and a beta of 1.25. Apple Inc. has a one year low of $129.04 and a one year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. Sell-side analysts expect that Apple Inc. will post 6.11 EPS for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s dividend payout ratio (DPR) is 15.18%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AAPL. UBS Group set a $185.00 price target on Apple in a research note on Thursday, September 29th. StockNews.com began coverage on Apple in a research note on Wednesday. They issued a “hold” rating for the company. Credit Suisse Group lowered their price target on Apple from $201.00 to $190.00 and set an “outperform” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price target on Apple from $205.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 20th. Finally, Deutsche Bank Aktiengesellschaft set a $175.00 price target on Apple in a research note on Monday, August 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $180.35.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O’brien sold 176,299 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the sale, the senior vice president now directly owns 136,290 shares in the company, valued at $19,374,986.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the sale, the senior vice president now directly owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 176,299 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $142.16, for a total value of $25,062,665.84. Following the sale, the senior vice president now owns 136,290 shares in the company, valued at approximately $19,374,986.40. The disclosure for this sale can be found here. Insiders have sold 298,034 shares of company stock worth $46,105,704 over the last three months. Company insiders own 0.06% of the company’s stock.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Apple and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *