Apple Inc. (NASDAQ:AAPL) Stake Trimmed by MayTech Global Investments LLC

MayTech Global Investments LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 5.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 171,848 shares of the iPhone maker’s stock after selling 10,267 shares during the quarter. Apple comprises approximately 5.4% of MayTech Global Investments LLC’s investment portfolio, making the stock its 5th largest holding. MayTech Global Investments LLC’s holdings in Apple were worth $36,195,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Verus Financial Partners Inc. boosted its holdings in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory boosted its stake in shares of Apple by 3.8% in the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after buying an additional 50 shares in the last quarter. Core Wealth Management Inc. boosted its stake in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares in the last quarter. Lowery Thomas LLC grew its holdings in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after acquiring an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. raised its position in Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after acquiring an additional 51 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Down 1.3 %

Shares of AAPL opened at $222.91 on Friday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The firm has a market capitalization of $3.39 trillion, a P/E ratio of 33.93, a price-to-earnings-growth ratio of 2.45 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. The stock’s fifty day simple moving average is $227.18 and its 200 day simple moving average is $212.33.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.49 by $0.15. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 6.6 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is 15.22%.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of the firm’s 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, 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 value of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 517,924 shares of company stock worth $114,786,399 over the last ninety days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AAPL shares. Citigroup upped their price target on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. Raymond James lifted their price target on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. TD Cowen lifted 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. Finally, KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $236.23.

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.