Apple Inc. (NASDAQ:AAPL) is Morton Capital Management LLC CA’s 8th Largest Position

Morton Capital Management LLC CA lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 10.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,780 shares of the iPhone maker’s stock after selling 7,675 shares during the quarter. Apple accounts for 3.2% of Morton Capital Management LLC CA’s holdings, making the stock its 8th largest holding. Morton Capital Management LLC CA’s holdings in Apple were worth $13,433,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AAPL. Charter Oak Capital Management LLC raised its position in Apple by 0.5% in the fourth quarter. Charter Oak Capital Management LLC now owns 69,035 shares of the iPhone maker’s stock valued at $13,291,000 after purchasing an additional 355 shares during the period. Krilogy Financial LLC boosted its position in shares of Apple by 2.6% during the fourth quarter. Krilogy Financial LLC now owns 196,455 shares of the iPhone maker’s stock worth $37,824,000 after buying an additional 5,064 shares during the period. Fingerlakes Wealth Management Inc. grew its stake in shares of Apple by 0.3% in the fourth quarter. Fingerlakes Wealth Management Inc. now owns 36,113 shares of the iPhone maker’s stock valued at $6,953,000 after buying an additional 113 shares in the last quarter. Nelson Capital Management LLC raised its holdings in shares of Apple by 4.1% in the 4th quarter. Nelson Capital Management LLC now owns 100,026 shares of the iPhone maker’s stock valued at $19,258,000 after buying an additional 3,947 shares during the period. Finally, Blossom Wealth Management lifted its stake in Apple by 17.4% during the 4th quarter. Blossom Wealth Management now owns 11,526 shares of the iPhone maker’s stock worth $2,219,000 after acquiring an additional 1,710 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 approximately $3,469,275. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Katherine L. Adams sold 100,000 shares of the business’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 sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of 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 90 days, insiders have sold 113,884 shares of company stock worth $23,723,887. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of a number of recent research reports. Citigroup reiterated a “buy” rating and set a $255.00 price target on shares of Apple in a research note on Tuesday, August 27th. Robert W. Baird upped their target price on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price target on shares of Apple in a research report on Monday, August 5th. Maxim Group upped their price objective on Apple from $195.00 to $203.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.30.

Apple Price Performance

Shares of NASDAQ AAPL opened at $222.77 on Wednesday. The stock has a fifty day moving average price of $222.57 and a 200 day moving average price of $196.53. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The company has a market cap of $3.42 trillion, a PE ratio of 34.65, a P/E/G ratio of 2.69 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. Sell-side analysts forecast that Apple Inc. will post 6.7 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

About Apple

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.