Boomfish Wealth Group LLC Sells 1,081 Shares of Apple Inc. (NASDAQ:AAPL)

Boomfish Wealth Group LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.7% during the second quarter, Holdings Channel reports. The fund owned 15,166 shares of the iPhone maker’s stock after selling 1,081 shares during the quarter. Apple makes up approximately 2.1% of Boomfish Wealth Group LLC’s investment portfolio, making the stock its 5th biggest position. Boomfish Wealth Group LLC’s holdings in Apple were worth $3,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AAPL. Onyx Bridge Wealth Group LLC raised its stake in Apple by 4.3% during the fourth quarter. Onyx Bridge Wealth Group LLC now owns 91,369 shares of the iPhone maker’s stock worth $17,591,000 after purchasing an additional 3,773 shares during the period. Geneva Partners LLC raised its stake in Apple by 68.5% during the fourth quarter. Geneva Partners LLC now owns 4,906 shares of the iPhone maker’s stock worth $944,000 after purchasing an additional 1,994 shares during the period. Heirloom Wealth Management raised its stake in Apple by 2.6% during the fourth quarter. Heirloom Wealth Management now owns 40,266 shares of the iPhone maker’s stock worth $7,752,000 after purchasing an additional 1,016 shares during the period. J.W. Cole Advisors Inc. raised its stake in Apple by 7.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 555,760 shares of the iPhone maker’s stock worth $107,001,000 after purchasing an additional 38,428 shares during the period. Finally, Stephenson & Company Inc. purchased a new position in Apple during the fourth quarter worth approximately $1,713,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $216.79 on Wednesday. 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 stock has a market cap of $3.32 trillion, a PE ratio of 33.72, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The stock has a 50-day moving average of $222.67 and a 200-day moving average of $199.26. Apple Inc. has a one year low of $164.07 and a one year high of $237.23.

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. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the previous year, the firm earned $1.26 EPS. Apple’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts expect that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Raymond James increased their target price on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays lowered their price objective on shares of Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Finally, KeyCorp reaffirmed a “hold” rating and issued a $247.61 price objective on shares of Apple in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.17.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 8,706 shares of the 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 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 SEC, which is available at this link. In other news, insider Chris Kondo sold 8,706 shares of the 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 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 SEC, which is available at this link. Also, SVP Katherine L. Adams sold 100,000 shares of the 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 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 sold a total of 113,884 shares of company stock valued at $23,723,887 in the last quarter. 0.06% of the stock is currently owned by insiders.

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.