Berkshire Money Management Inc. Sells 5,904 Shares of Apple Inc. (NASDAQ:AAPL)

Berkshire Money Management Inc. decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 22.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,739 shares of the iPhone maker’s stock after selling 5,904 shares during the period. Apple accounts for approximately 0.5% of Berkshire Money Management Inc.’s holdings, making the stock its 19th biggest holding. Berkshire Money Management Inc.’s holdings in Apple were worth $4,368,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AAPL. Yeomans Consulting Group Inc. bought a new stake in shares of Apple in the 4th quarter worth about $1,713,000. Raleigh Capital Management Inc. grew its holdings in Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA purchased a new stake in Apple in the 4th quarter worth about $38,406,000. Barden Capital Management Inc. lifted its stake in Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC purchased a new position in shares of Apple during the fourth quarter valued at approximately $4,782,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Activity

In other Apple news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Apple news, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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 disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock valued at $23,723,887 over the last ninety days. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AAPL has been the topic of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $261.00 price target on shares of Apple in a report on Tuesday, September 10th. Robert W. Baird lifted their target price on Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Tuesday, September 10th. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. Finally, Bank of America reaffirmed a “buy” rating and set a $256.00 target price on shares of Apple in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $239.17.

Apple Stock Up 0.2 %

Shares of AAPL stock opened at $216.79 on Wednesday. The stock’s fifty day moving average price is $222.67 and its 200 day moving average price is $199.26. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23. The company has a market cap of $3.32 trillion, a price-to-earnings ratio of 33.72, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted 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 firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 earnings per share. On average, research analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed 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 0.46%. Apple’s payout ratio is currently 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.