Apple Inc. (NASDAQ:AAPL) Stake Lowered by Baker Chad R

Baker Chad R lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 245,474 shares of the iPhone maker’s stock after selling 10,080 shares during the period. Apple accounts for 10.8% of Baker Chad R’s investment portfolio, making the stock its biggest holding. Baker Chad R’s holdings in Apple were worth $51,702,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc acquired a new stake in Apple during the first quarter worth approximately $35,000. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the 4th quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. raised its stake in Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after acquiring an additional 368 shares in the last quarter. Clarity Asset Management Inc. purchased a new stake in Apple in the fourth quarter valued at $85,000. Finally, Clear Street Markets LLC lifted its position in Apple by 100.6% in the fourth quarter. Clear Street Markets LLC now owns 483 shares of the iPhone maker’s stock valued at $93,000 after acquiring an additional 83,965 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AAPL. Maxim Group reiterated a “hold” rating and set a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. The Goldman Sachs Group raised their price target on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a research note on Friday. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 price objective (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, September 10th. One investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $239.17.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on 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 transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold 113,884 shares of company stock valued at $23,723,887 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 0.3 %

NASDAQ:AAPL opened at $228.20 on Friday. The stock has a market capitalization of $3.50 trillion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The stock has a fifty day moving average price of $222.41 and a two-hundred day moving average price of $200.19. 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 quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during 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 business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.26 EPS. As a group, sell-side analysts anticipate that Apple Inc. will post 6.7 earnings per share 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 dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is 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.