Apple Inc. (NASDAQ:AAPL) Stock Position Trimmed by Sterneck Capital Management LLC

Sterneck Capital Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,919 shares of the iPhone maker’s stock after selling 1,705 shares during the quarter. Apple accounts for approximately 11.1% of Sterneck Capital Management LLC’s investment portfolio, making the stock its largest position. Sterneck Capital Management LLC’s holdings in Apple were worth $19,571,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new position in shares of Apple during the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC lifted its holdings in Apple by 17.9% during the 1st 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 in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple in the 4th quarter valued at about $39,000. University of Texas Texas AM Investment Managment Co. grew its stake 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 acquiring an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in shares of Apple during the fourth quarter worth approximately $85,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $226.80 on Friday. The company has a 50 day simple moving average of $222.90 and a two-hundred day simple moving average of $203.86. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 35.27, a PEG ratio of 2.66 and a beta of 1.24. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

Apple (NASDAQ:AAPL) last posted its 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 company 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 firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. As a group, analysts predict that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid 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

AAPL has been the subject of a number of research reports. Cfra boosted their price target on Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Maxim Group restated a “hold” rating and set a $203.00 price target on shares of Apple in a research note on Tuesday, September 10th. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $238.76.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 458,619 shares of company stock valued at $101,352,630 over the last ninety days. Company insiders own 0.06% of the company’s stock.

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.