Apple Inc. (NASDAQ:AAPL) Shares Sold by Salomon & Ludwin LLC

Salomon & Ludwin LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 28.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,509 shares of the iPhone maker’s stock after selling 25,790 shares during the period. Apple accounts for 1.5% of Salomon & Ludwin LLC’s portfolio, making the stock its 21st largest position. Salomon & Ludwin LLC’s holdings in Apple were worth $13,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple in the first quarter valued at $35,000. Fidelis Capital Partners LLC raised its position in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. acquired a new stake in Apple in the 4th quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. boosted its position in shares of 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 valued at $82,000 after purchasing an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of Apple in the 4th quarter worth approximately $85,000. 60.41% of the stock is owned by institutional investors.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated 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 transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s 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 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. Over the last ninety days, insiders have sold 113,884 shares of company stock worth $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 2.9 %

Shares of AAPL opened at $226.21 on Wednesday. The stock has a market capitalization of $3.47 trillion, a P/E ratio of 35.18, a PEG ratio of 2.66 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The firm has a fifty day simple moving average of $222.39 and a two-hundred day simple moving average of $203.18. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 EPS. On average, research analysts anticipate that Apple Inc. will post 6.7 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date 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%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Rosenblatt Securities reissued a “buy” rating and set a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. UBS Group lifted their price target on Apple from $190.00 to $236.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 target price on shares of Apple in a research report on Monday, September 9th. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.76.

Apple Company 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.