Apple Inc. (NASDAQ:AAPL) is Capital Management Associates Inc’s 8th Largest Position

Capital Management Associates Inc cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 74.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,120 shares of the iPhone maker’s stock after selling 105,015 shares during the period. Apple accounts for approximately 4.5% of Capital Management Associates Inc’s investment portfolio, making the stock its 8th biggest holding. Capital Management Associates Inc’s holdings in Apple were worth $7,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Pineridge Advisors LLC acquired a new position in shares of Apple in the 4th quarter valued at $2,044,000. ARK & TLK Investments LLC acquired a new stake in shares of Apple during the fourth quarter worth about $1,580,000. Transcendent Capital Group LLC purchased a new stake in Apple in the fourth quarter valued at approximately $9,904,000. Creekmur Asset Management LLC purchased a new position in Apple during the 4th quarter worth approximately $4,681,000. Finally, A.P. Gilfoyle & Co. L.P. acquired a new stake in Apple during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AAPL shares. Morgan Stanley restated an “overweight” rating and set a $273.00 target price on shares of Apple in a research report on Tuesday, September 10th. Barclays reissued an “underweight” rating and issued a $186.00 price target on shares of Apple in a research note on Tuesday, October 1st. TD Cowen increased their price objective on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, July 29th. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Thursday, September 19th. Finally, Citigroup reiterated a “buy” rating and set a $255.00 price objective on shares of Apple in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

Insider Activity

In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock worth $114,786,399. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

AAPL stock opened at $231.30 on Tuesday. The business’s fifty day moving average price is $224.06 and its 200 day moving average price is $206.60. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $3.55 trillion, a PE ratio of 35.97, a P/E/G ratio of 2.40 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 (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 net margin of 26.44% and a return on equity of 147.15%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. On average, sell-side analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were paid 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 0.43%. Apple’s dividend payout ratio (DPR) is 15.55%.

Apple 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.