Apple Inc. (NASDAQ:AAPL) Shares Sold by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 24.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,930 shares of the iPhone maker’s stock after selling 25,179 shares during the quarter. Apple makes up approximately 2.0% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 15th biggest position. Beach Investment Counsel Inc. PA’s holdings in Apple were worth $16,203,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ABLE Financial Group LLC increased its position in shares of Apple by 2.8% during the fourth quarter. ABLE Financial Group LLC now owns 45,130 shares of the iPhone maker’s stock worth $8,689,000 after purchasing an additional 1,216 shares in the last quarter. Boit C F David lifted its stake in Apple by 18.1% in the fourth quarter. Boit C F David now owns 30,002 shares of the iPhone maker’s stock valued at $5,528,000 after buying an additional 4,600 shares during the last quarter. Capital Insight Partners LLC boosted its holdings in shares of Apple by 0.9% in the fourth quarter. Capital Insight Partners LLC now owns 63,689 shares of the iPhone maker’s stock valued at $12,262,000 after acquiring an additional 550 shares during the period. Allworth Financial LP boosted its holdings in shares of Apple by 12.2% in the fourth quarter. Allworth Financial LP now owns 820,177 shares of the iPhone maker’s stock valued at $157,909,000 after acquiring an additional 89,418 shares during the period. Finally, Detalus Advisors LLC grew its position in shares of Apple by 0.7% during the fourth quarter. Detalus Advisors LLC now owns 20,601 shares of the iPhone maker’s stock worth $3,966,000 after acquiring an additional 148 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 188,884 shares of company stock worth $38,092,387. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on AAPL shares. StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Raymond James increased their target price on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Monness Crespi & Hardt boosted their price target on Apple from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Rosenblatt Securities increased their price objective on Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Wedbush boosted their target price on Apple from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.63.

Apple Trading Up 0.1 %

NASDAQ:AAPL opened at $227.18 on Tuesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The company has a market capitalization of $3.48 trillion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $220.53 and a 200-day simple moving average of $194.75.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 145.35% and a net margin of 26.44%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 EPS. On average, equities research analysts expect that Apple Inc. will post 6.61 earnings per share for the current fiscal year.

Apple announced that its board has initiated a stock buyback program on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were 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 was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

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.