Delta Investment Management LLC Sells 143 Shares of Apple Inc. (NASDAQ:AAPL)

Delta Investment Management LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 63,068 shares of the iPhone maker’s stock after selling 143 shares during the quarter. Apple makes up approximately 2.9% of Delta Investment Management LLC’s holdings, making the stock its 8th largest holding. Delta Investment Management LLC’s holdings in Apple were worth $13,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AAPL. Verus Financial Partners Inc. increased its stake in Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares during the last quarter. Brown Financial Advisory increased its stake in Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares during the last quarter. Core Wealth Management Inc. increased its stake in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the last quarter. Lowery Thomas LLC increased its stake 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 last quarter. Finally, Klein Pavlis & Peasley Financial Inc. increased its stake in Apple by 1.1% during 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 during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Luca Maestri sold 59,305 shares of the business’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on 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 directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock valued at $93,021,362 over the last quarter. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $224.23 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a 50-day moving average of $226.72 and a two-hundred day moving average of $215.06. The stock has a market cap of $3.39 trillion, a P/E ratio of 36.88, a PEG ratio of 2.22 and a beta of 1.24. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the company posted $1.46 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be issued a $0.25 dividend. The ex-dividend date of this dividend 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 is currently 16.45%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and lifted their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. The Goldman Sachs Group lifted their price objective on Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Loop Capital dropped their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Rosenblatt Securities lifted their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Oppenheimer reiterated a “buy” rating and issued a $250.00 target price on shares of Apple in a report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

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.