Aveo Capital Partners LLC Sells 7,141 Shares of Apple Inc. (NASDAQ:AAPL)

Aveo Capital Partners LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 19.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,713 shares of the iPhone maker’s stock after selling 7,141 shares during the quarter. Aveo Capital Partners LLC’s holdings in Apple were worth $6,047,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital International Investors grew its stake in shares of Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Apple by 1.7% in the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares during the last quarter. Swedbank AB grew its stake in shares of Apple by 13.4% in the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after purchasing an additional 2,359,409 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Apple by 16.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,993,042 shares of the iPhone maker’s stock worth $3,085,427,000 after purchasing an additional 2,594,138 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in shares of Apple by 2.5% in the first quarter. Nordea Investment Management AB now owns 17,247,950 shares of the iPhone maker’s stock worth $2,951,297,000 after purchasing an additional 415,186 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Apple Trading Up 1.2 %

NASDAQ:AAPL opened at $235.00 on Friday. 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 $237.49. The company has a market cap of $3.60 trillion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a 50 day simple moving average of $225.78 and a two-hundred day simple moving average of $207.84.

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. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insiders Place Their Bets

In other news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at $24,416,137.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the business’s 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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 517,924 shares of company stock valued at $114,786,399. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several recent analyst reports. Moffett Nathanson assumed coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. Robert W. Baird raised their price objective on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Cfra raised their price objective on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Needham & Company LLC restated a “buy” rating and issued a $260.00 price objective on shares of Apple in a report on Thursday, September 19th. Finally, Maxim Group restated a “hold” rating and issued a $203.00 price objective on shares of Apple in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued 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, Apple has an average rating of “Moderate Buy” and an average target price of $239.27.

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.