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

Northside Capital Management LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,441 shares of the iPhone maker’s stock after selling 129 shares during the period. Apple makes up approximately 2.2% of Northside Capital Management LLC’s portfolio, making the stock its 9th largest position. Northside Capital Management LLC’s holdings in Apple were worth $12,520,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AAPL. Norges Bank purchased a new position in Apple during the fourth quarter worth about $33,912,466,000. Vanguard Group Inc. increased its holdings in Apple by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after buying an additional 18,067,216 shares in the last quarter. Swedbank AB purchased a new position in Apple in the first quarter valued at about $3,026,492,000. Global Assets Advisory LLC increased its holdings in Apple by 23,076.4% in the first quarter. Global Assets Advisory LLC now owns 9,240,214 shares of the iPhone maker’s stock valued at $1,584,512,000 after buying an additional 9,200,345 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Apple by 158.3% in the first quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after buying an additional 7,067,379 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 1.5 %

Shares of NASDAQ:AAPL opened at $229.79 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market cap of $3.52 trillion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The firm has a 50 day simple moving average of $221.05 and a 200 day simple moving average of $195.24.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 15.55%.

Apple announced that its board has authorized a stock repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $110.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AAPL. Bank of America reiterated a “buy” rating and issued a $256.00 price target on shares of Apple in a research report on Tuesday. Melius Research reiterated a “buy” rating and issued a $265.00 price target on shares of Apple in a research report on Tuesday. Canaccord Genuity Group increased their price target on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Saturday, May 4th. Rosenblatt Securities raised 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, Barclays decreased their target price on shares of Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.30.

Insider Activity at Apple

In related news, insider Chris Kondo sold 8,706 shares of the firm’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 transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the firm’s 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 of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by insiders.

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.