Sage Financial Management Group Inc. Sells 69 Shares of Apple Inc. (NASDAQ:AAPL)

Sage Financial Management Group Inc. lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,578 shares of the iPhone maker’s stock after selling 69 shares during the quarter. Apple makes up 2.3% of Sage Financial Management Group Inc.’s portfolio, making the stock its 6th biggest position. Sage Financial Management Group Inc.’s holdings in Apple were worth $754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Blue Trust Inc. raised its stake in shares of Apple by 15.2% in the 2nd quarter. Blue Trust Inc. now owns 148,000 shares of the iPhone maker’s stock valued at $31,172,000 after purchasing an additional 19,582 shares during the period. Outlook Wealth Advisors LLC raised its stake in shares of Apple by 5.1% in the 2nd quarter. Outlook Wealth Advisors LLC now owns 24,347 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 1,178 shares during the period. Old Port Advisors raised its stake in shares of Apple by 1.9% in the 2nd quarter. Old Port Advisors now owns 40,475 shares of the iPhone maker’s stock valued at $8,525,000 after purchasing an additional 770 shares during the period. Chaney Capital Management Inc. raised its stake in shares of Apple by 21.5% in the 2nd quarter. Chaney Capital Management Inc. now owns 36,443 shares of the iPhone maker’s stock valued at $7,676,000 after purchasing an additional 6,451 shares during the period. Finally, TruNorth Capital Management LLC raised its stake in shares of Apple by 0.7% in the 2nd quarter. TruNorth Capital Management LLC now owns 10,074 shares of the iPhone maker’s stock valued at $2,122,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Activity

In other 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 value of $20,644,000.00. Following the completion of the sale, the senior vice president now directly 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 can be accessed through this link. In other Apple 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 transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s 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 transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,884 shares of company stock worth $23,723,887. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Loop Capital raised Apple from a “hold” rating to a “buy” rating and lifted their price target for the company from $170.00 to $300.00 in a research note on Monday, July 15th. Evercore ISI reissued an “outperform” rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, August 27th. KeyCorp restated a “hold” rating and issued a $247.61 price objective on shares of Apple in a report on Wednesday, August 28th. Wedbush restated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a report on Monday, September 9th. Finally, UBS Group raised their price objective on Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Apple Trading Down 0.1 %

Shares of NASDAQ:AAPL opened at $222.50 on Monday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.23. The stock has a market cap of $3.41 trillion, a PE ratio of 34.60, a P/E/G ratio of 2.62 and a beta of 1.24. The business has a 50 day moving average of $223.14 and a 200-day moving average of $198.75. 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 (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share 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 147.15%. 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 business earned $1.26 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 6.7 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s payout ratio is 15.55%.

Apple Company 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.