Cascade Investment Advisors Inc. Sells 760 Shares of Apple Inc. (NASDAQ:AAPL)

Cascade Investment Advisors Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,868 shares of the iPhone maker’s stock after selling 760 shares during the period. Apple accounts for approximately 2.8% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 2nd biggest position. Cascade Investment Advisors Inc.’s holdings in Apple were worth $4,185,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in shares of Apple during the 1st quarter worth about $35,000. Fidelis Capital Partners LLC boosted its position in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. bought a new position in Apple in the fourth quarter valued at approximately $39,000. Gilfoyle & Co LLC increased its position in shares of Apple by 168.0% during the 4th quarter. Gilfoyle & Co LLC now owns 268 shares of the iPhone maker’s stock worth $52,000 after purchasing an additional 168 shares during the last quarter. Finally, University of Texas Texas AM Investment Managment Co. raised its stake in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $227.18 on Tuesday. The firm has a 50 day moving average of $220.53 and a 200-day moving average of $194.75. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $3.48 trillion, a PE ratio of 35.33, a PEG ratio of 2.60 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 net margin of 26.44% and a return on equity of 145.35%. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period last year, the firm posted $1.26 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple Announces Dividend

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

Apple declared that its Board of Directors has initiated a share repurchase program on Thursday, May 2nd that permits the company to repurchase $110.00 billion in shares. This repurchase authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Citigroup boosted their target price on shares of Apple from $210.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Cfra boosted their price objective on shares of Apple from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. upped their target price on shares of Apple from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Monness Crespi & Hardt raised their target price on shares of Apple from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, TD Cowen boosted their price target on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.63.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the transaction, the director now 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. Insiders have sold 188,884 shares of company stock valued at $38,092,387 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Apple 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.