Bond & Devick Financial Network Inc. Lowers Holdings in Apple Inc. (NASDAQ:AAPL)

Bond & Devick Financial Network Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,165 shares of the iPhone maker’s stock after selling 149 shares during the quarter. Apple comprises approximately 1.9% of Bond & Devick Financial Network Inc.’s holdings, making the stock its 13th largest position. Bond & Devick Financial Network Inc.’s holdings in Apple were worth $3,615,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc bought a new position in Apple during the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC raised its holdings 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 worth $35,000 after acquiring an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Apple during the 4th quarter valued at approximately $39,000. University of Texas Texas AM Investment Managment Co. grew its holdings 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 valued at $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new stake in Apple in the fourth quarter worth $85,000. Institutional investors own 60.41% of the company’s stock.

Apple Trading Down 2.7 %

NASDAQ AAPL opened at $222.77 on Wednesday. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market capitalization of $3.42 trillion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24. The company’s 50-day simple moving average is $222.57 and its two-hundred day simple moving average is $196.53.

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, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. Apple’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. Equities analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

Insider Transactions at Apple

In related news, 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 sale, the insider now 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 available through the SEC website. In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last three months, insiders sold 113,884 shares of company stock valued at $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AAPL. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Monday, August 5th. Sanford C. Bernstein lifted their price target on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Moffett Nathanson initiated coverage on Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective on the stock. TD Cowen raised their price objective on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Erste Group Bank raised Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. One investment 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 assigned 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 target price of $237.30.

Apple 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.