Apple Inc. (NASDAQ:AAPL) Shares Sold by Genesee Capital Advisors LLC

Genesee Capital Advisors LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,477 shares of the iPhone maker’s stock after selling 2,803 shares during the period. Apple accounts for approximately 4.5% of Genesee Capital Advisors LLC’s holdings, making the stock its 4th largest holding. Genesee Capital Advisors LLC’s holdings in Apple were worth $9,157,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AAPL. Wheelhouse Advisory Group LLC acquired a new stake in shares of Apple in the 4th quarter valued at $1,306,000. Knights of Columbus Asset Advisors LLC increased its stake in shares of Apple by 1.0% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 284,563 shares of the iPhone maker’s stock valued at $54,787,000 after buying an additional 2,804 shares during the period. Ninepoint Partners LP increased its stake in shares of Apple by 19.5% in the 4th quarter. Ninepoint Partners LP now owns 5,553 shares of the iPhone maker’s stock valued at $1,069,000 after buying an additional 905 shares during the period. Zhang Financial LLC increased its stake in shares of Apple by 3.4% in the 4th quarter. Zhang Financial LLC now owns 184,471 shares of the iPhone maker’s stock valued at $35,516,000 after buying an additional 6,014 shares during the period. Finally, Roth Financial Partners LLC increased its stake in shares of Apple by 4.5% in the 4th quarter. Roth Financial Partners LLC now owns 11,565 shares of the iPhone maker’s stock valued at $2,227,000 after buying an additional 501 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 2.8 %

Shares of Apple stock opened at $216.32 on Tuesday. 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 $3.32 trillion, a P/E ratio of 33.64, a P/E/G ratio of 2.62 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $222.91 and its 200-day moving average is $199.00.

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 analysts’ consensus estimates of $1.34 by $0.06. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the prior year, the business posted $1.26 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Analyst Ratings Changes

Several research firms have recently commented on AAPL. KeyCorp reissued a “hold” rating and issued a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. Wedbush reissued an “outperform” rating and issued a $285.00 target price on shares of Apple in a research note on Monday, September 9th. UBS Group lifted their target price on Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Piper Sandler Companies reaffirmed a “neutral” rating and set a $225.00 price objective (up from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price objective on shares of Apple in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

Insider Activity at Apple

In related news, 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 sale, 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 document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $1,958,850.00. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,469,275. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, 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 quarter, insiders have sold 113,884 shares of company stock worth $23,723,887. Company insiders own 0.06% of the company’s stock.

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.