Gordian Capital Singapore Pte Ltd Sells 2,425 Shares of Apple Inc. (NASDAQ:AAPL)

Gordian Capital Singapore Pte Ltd decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 5.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 44,524 shares of the iPhone maker’s stock after selling 2,425 shares during the period. Apple makes up approximately 4.9% of Gordian Capital Singapore Pte Ltd’s investment portfolio, making the stock its 8th largest holding. Gordian Capital Singapore Pte Ltd’s holdings in Apple were worth $9,378,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AAPL. New Street Research reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Rosenblatt Securities increased their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Finally, Raymond James increased their price target on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $235.51.

Apple Stock Performance

Shares of AAPL stock opened at $225.00 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $164.07 and a one year high of $237.49. The company’s 50-day simple moving average is $227.04 and its 200-day simple moving average is $216.61. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.20 and a beta of 1.24.

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. Equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio is currently 16.45%.

Insiders Place Their Bets

In other Apple news, 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 transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction dated 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 $24,416,137.76. This represents a 35.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 404,040 shares of company stock valued at $91,062,512 over the last quarter. Insiders own 0.06% of the company’s stock.

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.