Moors & Cabot Inc. Lowers Position in Apple Inc. (NASDAQ:AAPL)

Moors & Cabot Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 431,781 shares of the iPhone maker’s stock after selling 4,378 shares during the quarter. Apple comprises about 4.8% of Moors & Cabot Inc.’s holdings, making the stock its 2nd biggest position. Moors & Cabot Inc.’s holdings in Apple were worth $90,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Access Investment Management LLC purchased a new stake in Apple during the first quarter valued at approximately $140,000. Hoese & Co LLP increased its holdings in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in Apple during the second quarter valued at approximately $206,000. Benchmark Wealth Management LLC purchased a new stake in Apple during the second quarter valued at approximately $208,000. Finally, Sequent Asset Management LLC purchased a new stake in Apple during the second quarter valued at approximately $214,000. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AAPL shares. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and increased their price objective for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Maxim Group increased their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday. Oppenheimer reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Moffett Nathanson initiated coverage on shares of Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 target price for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.23.

Get Our Latest Stock Report on Apple

Apple Trading Down 1.3 %

NASDAQ AAPL opened at $222.91 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 2.41 and a beta of 1.24. The company’s 50-day simple moving average is $227.18 and its two-hundred day simple moving average is $212.64. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPLGet Free Report) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 145.09%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. Equities analysts forecast that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, November 11th. Apple’s payout ratio is currently 16.45%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred 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 $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred 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 $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,924 shares of company stock valued at $94,142,399 in the last 90 days. Insiders own 0.06% of the company’s stock.

Apple Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLFree Report).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.