Apple Inc. (NASDAQ:AAPL) is Sage Capital Advisors llc’s Largest Position

Sage Capital Advisors llc trimmed its position in Apple Inc. (NASDAQ:AAPL) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,098 shares of the iPhone maker’s stock after selling 3,048 shares during the quarter. Apple makes up approximately 10.7% of Sage Capital Advisors llc’s portfolio, making the stock its largest position. Sage Capital Advisors llc’s holdings in Apple were worth $37,090,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AAPL. Flagstone Financial Management raised its holdings in Apple by 0.9% in the 4th quarter. Flagstone Financial Management now owns 6,092 shares of the iPhone maker’s stock worth $1,173,000 after acquiring an additional 56 shares during the period. Hoese & Co LLP increased its stake in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Stableford Capital II LLC lifted its position in shares of Apple by 0.3% during the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after purchasing an additional 59 shares during the last quarter. Kwmg LLC boosted its stake in Apple by 0.6% during the 1st quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock valued at $1,825,000 after purchasing an additional 60 shares during the period. Finally, Greylin Investment Management Inc boosted its stake in Apple by 0.4% during the 1st quarter. Greylin Investment Management Inc now owns 16,711 shares of the iPhone maker’s stock valued at $2,866,000 after purchasing an additional 61 shares during the period. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $227.18 on Tuesday. The business has a fifty day moving average of $220.53 and a 200-day moving average of $194.75. The firm has a market cap of $3.48 trillion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 2.60 and a beta of 1.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23.

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

Apple Announces Dividend

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

Apple announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 2nd that allows the company to buyback $110.00 billion in shares. This buyback authorization allows the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AAPL shares. Piper Sandler Companies reiterated a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Moffett Nathanson began coverage on shares of Apple in a report on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Citigroup boosted their price objective on shares of Apple from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Raymond James increased their target price on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Melius Research lifted their target price on Apple from $227.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $233.63.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’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 transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $835,207,570.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 188,884 shares of company stock valued at $38,092,387. 0.06% of the stock is currently owned by corporate insiders.

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.