Apple Inc. (NASDAQ:AAPL) Holdings Decreased by Investment House LLC

Investment House LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 627,827 shares of the iPhone maker’s stock after selling 68,328 shares during the period. Apple accounts for about 7.5% of Investment House LLC’s investment portfolio, making the stock its largest holding. Investment House LLC’s holdings in Apple were worth $132,233,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Foresight Capital Management Advisors Inc. grew its holdings in Apple by 0.3% during the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after purchasing an additional 55 shares during the period. Altus Wealth Management LLC lifted its position in shares of Apple by 0.6% during the 2nd quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock valued at $2,002,000 after buying an additional 55 shares in the last quarter. Hoese & Co LLP grew its stake in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. Stableford Capital II LLC increased its holdings in Apple by 0.3% in the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after acquiring an additional 59 shares in the last quarter. Finally, Whitcomb & Hess Inc. raised its stake in Apple by 1.7% during the 2nd quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock worth $746,000 after acquiring an additional 59 shares during the period. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AAPL shares. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. Bank of America reaffirmed a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Thursday, September 5th. Oppenheimer reissued an “outperform” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, September 10th. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $230.00 in a research note on Tuesday, June 11th. Finally, Wedbush reissued an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Insider Activity

In related 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 transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 8,706 shares of Apple 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 sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

NASDAQ:AAPL opened at $228.20 on Friday. The firm has a market capitalization of $3.50 trillion, a PE ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. The stock’s fifty day moving average is $222.41 and its 200 day moving average is $200.19. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week 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.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share 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 147.15%. The business had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The firm also recently announced 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. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

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.