Eagle Wealth Strategies LLC Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Eagle Wealth Strategies LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 6.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,455 shares of the iPhone maker’s stock after selling 669 shares during the period. Apple accounts for approximately 1.6% of Eagle Wealth Strategies LLC’s holdings, making the stock its 10th biggest holding. Eagle Wealth Strategies LLC’s holdings in Apple were worth $1,991,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AAPL. Christopher J. Hasenberg Inc purchased a new position in Apple during the first quarter valued at $35,000. Fidelis Capital Partners LLC lifted 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 buying an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new position in Apple during the fourth quarter valued at $39,000. University of Texas Texas AM Investment Managment Co. lifted its position in Apple by 657.1% during 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 buying an additional 368 shares during the period. Finally, Clarity Asset Management Inc. purchased a new position in Apple during the fourth quarter valued at $85,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Down 2.8 %

Shares of AAPL opened at $216.32 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The stock has a market capitalization of $3.32 trillion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The business’s 50 day simple moving average is $222.91 and its 200-day simple moving average is $199.00.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. As a group, equities analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced 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 was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.46%. Apple’s dividend payout ratio is currently 15.55%.

Insider Activity

In related news, insider Chris Kondo sold 8,706 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Apple news, 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 sale, the insider now owns 15,419 shares in the company, valued at $3,469,275. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on 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 completion of the sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AAPL shares. Maxim Group reissued a “hold” rating and set a $203.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Moffett Nathanson began coverage on Apple in a research report on Monday, August 19th. They set a “neutral” rating and a $211.00 price objective for the company. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. KeyCorp reaffirmed a “hold” rating and issued a $247.61 price target on shares of Apple in a research report on Wednesday, August 28th. Finally, TD Cowen lifted 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 investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.17.

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.