Apple Inc. (NASDAQ:AAPL) Holdings Reduced by CRA Financial Services LLC

CRA Financial Services LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 201,571 shares of the iPhone maker’s stock after selling 4,536 shares during the period. Apple accounts for 8.6% of CRA Financial Services LLC’s portfolio, making the stock its biggest position. CRA Financial Services LLC’s holdings in Apple were worth $42,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Yeomans Consulting Group Inc. acquired a new position in shares of Apple during the 4th quarter worth about $1,713,000. Raleigh Capital Management Inc. raised its position in shares of Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after purchasing an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA acquired a new position in shares of Apple during the 4th quarter worth about $38,406,000. Barden Capital Management Inc. raised its position in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after purchasing an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC acquired a new stake in Apple in the 4th quarter valued at about $4,782,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. In the last three months, insiders sold 113,884 shares of company stock valued at $23,723,887. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $229.00 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.23. The stock has a market capitalization of $3.51 trillion, a PE ratio of 35.61, a P/E/G ratio of 2.69 and a beta of 1.24. The firm has a 50 day moving average of $221.88 and a two-hundred day moving average of $195.93.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. On average, research analysts predict that Apple Inc. will post 6.7 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%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a report on Tuesday, August 27th. Sanford C. Bernstein increased their price objective on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Robert W. Baird increased their price objective on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Cfra increased their price objective on shares of Apple from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $237.30.

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.