Apple Inc. (NASDAQ:AAPL) Shares Sold by Investment Advisory Group LLC

Investment Advisory Group LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,723 shares of the iPhone maker’s stock after selling 253 shares during the period. Apple accounts for about 2.7% of Investment Advisory Group LLC’s holdings, making the stock its 6th biggest position. Investment Advisory Group LLC’s holdings in Apple were worth $6,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of AAPL. Henrickson Nauta Wealth Advisors Inc. raised its holdings in Apple by 15.9% in the 2nd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 4,339 shares of the iPhone maker’s stock valued at $914,000 after acquiring an additional 595 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Apple by 16.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 242,375 shares of the iPhone maker’s stock valued at $52,535,000 after buying an additional 33,708 shares during the period. Sollinda Capital Management LLC grew its stake in shares of Apple by 1.9% during the 2nd quarter. Sollinda Capital Management LLC now owns 8,153 shares of the iPhone maker’s stock valued at $1,717,000 after buying an additional 153 shares during the period. Advisors Management Group Inc. ADV boosted its position in Apple by 1.5% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 44,600 shares of the iPhone maker’s stock worth $9,394,000 after purchasing an additional 647 shares during the period. Finally, Biechele Royce Advisors boosted its position in Apple by 13.0% during the 2nd quarter. Biechele Royce Advisors now owns 116,313 shares of the iPhone maker’s stock worth $24,498,000 after purchasing an additional 13,354 shares during the period. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Down 0.7 %

Shares of Apple stock opened at $227.55 on Friday. The business has a fifty day simple moving average of $223.62 and a 200-day simple moving average of $205.95. The firm has a market cap of $3.49 trillion, a price-to-earnings ratio of 35.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. 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 Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The company had revenue of $85.78 billion for 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%. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 earnings per share. On average, equities analysts forecast that Apple Inc. will post 6.65 EPS for the current fiscal year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on AAPL. 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. Piper Sandler Companies reiterated a “neutral” rating and issued a $225.00 price objective (up previously from $190.00) on shares of Apple in a report on Tuesday, July 9th. KeyCorp restated a “hold” rating and issued a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. TD Cowen upped their target price on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.27.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Apple news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares of the company’s stock, valued at $24,416,137.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 517,924 shares of company stock valued at $114,786,399. Company insiders own 0.06% of the company’s stock.

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.