Oceanside Advisors LLC Lowers Position in Apple Inc. (NASDAQ:AAPL)

Oceanside Advisors LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 3.7% during the second quarter, HoldingsChannel.com reports. The firm owned 2,745 shares of the iPhone maker’s stock after selling 104 shares during the quarter. Apple makes up approximately 0.5% of Oceanside Advisors LLC’s holdings, making the stock its 26th largest holding. Oceanside Advisors LLC’s holdings in Apple were worth $578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Christopher J. Hasenberg Inc purchased a new stake in Apple during the first quarter valued at $35,000. Fidelis Capital Partners LLC increased its holdings in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new position in Apple in the fourth quarter worth approximately $39,000. University of Texas Texas AM Investment Managment Co. grew 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 acquiring an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Apple in the 4th quarter worth $85,000. Institutional investors own 60.41% of the company’s stock.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction on Thursday, August 15th. The shares were 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction that occurred on 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 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 filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction 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 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. 0.06% of the stock is owned by company insiders.

Apple Stock Down 2.9 %

Shares of NASDAQ:AAPL opened at $226.21 on Wednesday. The firm’s 50-day simple moving average is $222.39 and its 200-day simple moving average is $203.18. The company has a market cap of $3.47 trillion, a price-to-earnings ratio of 35.18, a PEG ratio of 2.66 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. 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 released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 earnings per share. As a group, equities 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. Shareholders 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 yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. TD Cowen upped their price objective on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $261.00 price objective on shares of Apple in a research note on Tuesday, September 10th. KeyCorp reiterated a “hold” rating and set a $247.61 price target on shares of Apple in a report on Wednesday, August 28th. Finally, StockNews.com upgraded Apple from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.76.

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.