Capital Insight Partners LLC Reduces Stock Position in Apple Inc. (NASDAQ:AAPL)

Capital Insight Partners LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 7.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,371 shares of the iPhone maker’s stock after selling 4,797 shares during the period. Apple makes up approximately 2.4% of Capital Insight Partners LLC’s holdings, making the stock its 7th biggest position. Capital Insight Partners LLC’s holdings in Apple were worth $12,715,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new position in Apple in the 1st quarter worth about $35,000. Fidelis Capital Partners LLC raised its position in Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in Apple in the 4th quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. raised its position in Apple by 657.1% in 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 buying an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in Apple in the 4th quarter worth about $85,000. Institutional investors own 60.41% of the company’s stock.

Apple Trading Up 0.1 %

Shares of AAPL stock opened at $227.79 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. 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’s 50 day simple moving average is $222.19 and its two-hundred day simple moving average is $202.16. The company has a market cap of $3.49 trillion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24.

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

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s payout ratio is 15.55%.

Wall Street Analyst Weigh In

AAPL has been the subject of several research reports. Wedbush reaffirmed an “outperform” rating and set a $285.00 price target on shares of Apple in a research report on Monday, September 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $261.00 price target on shares of Apple in a research report on Tuesday, September 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, Maxim Group reiterated a “hold” rating and set a $203.00 price objective on shares of Apple in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.76.

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $216.50, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 over the last quarter. 0.06% of the stock is owned by corporate insiders.

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.