Parkside Advisors LLC Sells 18,943 Shares of Apple Inc. (NASDAQ:AAPL)

Parkside Advisors LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 43.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 24,689 shares of the iPhone maker’s stock after selling 18,943 shares during the quarter. Apple accounts for about 1.3% of Parkside Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Parkside Advisors LLC’s holdings in Apple were worth $5,200,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in AAPL. Christopher J. Hasenberg Inc bought a new stake in Apple in the first quarter valued at $35,000. Fidelis Capital Partners LLC boosted its stake in shares of Apple by 17.9% during the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Apple during the 4th quarter valued at about $39,000. Gilfoyle & Co LLC increased its position in shares of Apple by 168.0% during the fourth quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock valued at $52,000 after buying an additional 168 shares during the period. Finally, University of Texas Texas AM Investment Managment Co. raised its stake in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’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 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 90 days, insiders have sold 188,884 shares of company stock worth $38,092,387. Company insiders own 0.06% of the company’s stock.

Apple Stock Up 0.4 %

AAPL opened at $228.03 on Wednesday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The firm’s 50 day simple moving average is $220.53 and its two-hundred day simple moving average is $194.75. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $3.50 trillion, a PE ratio of 35.46, a PEG ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for 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%. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 6.61 EPS for the current year.

Apple announced that its board has initiated a stock repurchase plan on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is 15.55%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AAPL. Wedbush upped their target price on Apple from $275.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Bank of America reaffirmed a “buy” rating and issued a $256.00 price target on shares of Apple in a research note on Tuesday. Melius Research reissued a “buy” rating and set a $265.00 price objective on shares of Apple in a research report on Tuesday. Rosenblatt Securities upped their target price on shares of Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein lifted their price target on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.51.

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.