Gill Capital Partners LLC Sells 430 Shares of Apple Inc. (NASDAQ:AAPL)

Gill Capital Partners LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,164 shares of the iPhone maker’s stock after selling 430 shares during the period. Apple comprises about 1.0% of Gill Capital Partners LLC’s holdings, making the stock its 28th largest position. Gill Capital Partners LLC’s holdings in Apple were worth $2,562,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on 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 completion of the sale, the senior vice president now 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 SEC, which is available at the SEC website. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock worth $23,723,887 in the last three months. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL opened at $229.79 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company has a 50-day simple moving average of $221.05 and a two-hundred day simple moving average of $195.24. The firm has a market capitalization 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 (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 145.35%. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the business earned $1.26 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 6.61 EPS for the current fiscal year.

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

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

AAPL has been the subject of several recent research reports. Canaccord Genuity Group lifted their target price on shares of Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Rosenblatt Securities lifted their target price on shares of Apple from $260.00 to $261.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Barclays reduced their price objective on shares of Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Citigroup reaffirmed a “buy” rating and set a $255.00 price objective on shares of Apple in a research note on Tuesday. Finally, TD Cowen boosted their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $237.30.

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.