Apple Inc. (NASDAQ:AAPL) Shares Sold by Advance Capital Management Inc.

Advance Capital Management Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,216 shares of the iPhone maker’s stock after selling 583 shares during the period. Apple accounts for about 0.3% of Advance Capital Management Inc.’s portfolio, making the stock its 17th largest holding. Advance Capital Management Inc.’s holdings in Apple were worth $6,153,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Boston Common Asset Management LLC boosted its stake in shares of Apple by 9.5% in the second quarter. Boston Common Asset Management LLC now owns 203,435 shares of the iPhone maker’s stock worth $42,847,000 after acquiring an additional 17,617 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Apple by 28.6% in the 2nd quarter. Versant Capital Management Inc now owns 22,227 shares of the iPhone maker’s stock valued at $4,681,000 after purchasing an additional 4,938 shares in the last quarter. Rempart Asset Management Inc. boosted its stake in Apple by 4.8% during the 2nd quarter. Rempart Asset Management Inc. now owns 11,507 shares of the iPhone maker’s stock worth $2,424,000 after purchasing an additional 527 shares during the last quarter. Collective Family Office LLC grew its holdings in shares of Apple by 11.6% during the second quarter. Collective Family Office LLC now owns 16,387 shares of the iPhone maker’s stock worth $3,452,000 after buying an additional 1,700 shares in the last quarter. Finally, Stokes Family Office LLC raised its position in shares of Apple by 2.9% in the second quarter. Stokes Family Office LLC now owns 256,795 shares of the iPhone maker’s stock valued at $54,086,000 after buying an additional 7,260 shares during the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $227.18 on Tuesday. The firm has a 50 day moving average of $220.53 and a two-hundred day moving average of $194.75. The stock has a market capitalization of $3.48 trillion, a PE ratio of 35.33, a P/E/G ratio of 2.60 and a beta of 1.24. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.24. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 145.35% and a net margin of 26.44%. The firm had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period last year, the business posted $1.26 earnings per share. Apple’s revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple announced that its board has authorized a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AAPL. Bank of America reaffirmed a “buy” rating and set a $230.00 price objective on shares of Apple in a research note on Tuesday, July 9th. JPMorgan Chase & Co. boosted their target price on Apple from $245.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Canaccord Genuity Group boosted their price objective on Apple from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Saturday, May 4th. Citigroup raised their target price on Apple from $210.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $233.63.

Insider Buying and Selling

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now directly owns 4,359,576 shares in the company, valued at $835,207,570.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the transaction, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,884 shares of company stock worth $38,092,387. Corporate insiders own 0.06% of the company’s stock.

About Apple

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.