Rebalance LLC Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Rebalance LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 41.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,836 shares of the iPhone maker’s stock after selling 7,038 shares during the quarter. Rebalance LLC’s holdings in Apple were worth $2,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of Apple during the 1st quarter worth approximately $35,000. Fidelis Capital Partners LLC raised its holdings in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the fourth quarter worth $39,000. University of Texas Texas AM Investment Managment Co. grew its holdings in Apple by 657.1% in the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock valued at $82,000 after purchasing an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in shares of Apple in the fourth quarter valued at $85,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $225.00, for a total value of $1,958,850.00. Following the completion of the sale, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 over the last quarter. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AAPL shares. Melius Research reissued a “buy” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. KeyCorp reissued a “hold” rating and set a $247.61 price objective on shares of Apple in a research note on Wednesday, August 28th. UBS Group reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Apple in a research note on Monday, July 1st. Sanford C. Bernstein raised their price target on Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, Monness Crespi & Hardt upped their price objective on Apple from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. 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 assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $237.30.

Apple Trading Down 0.3 %

NASDAQ:AAPL opened at $229.00 on Monday. The company has a market cap 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 business’s 50 day moving average is $221.88 and its two-hundred day moving average is $195.93. 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.

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, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.26 earnings per share. On average, analysts predict that Apple Inc. will post 6.7 EPS for the current 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is presently 15.55%.

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.