Apple Inc. (NASDAQ:AAPL) Stock Position Cut by Hedeker Wealth LLC

Hedeker Wealth LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 13.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,767 shares of the iPhone maker’s stock after selling 10,489 shares during the quarter. Apple makes up approximately 4.0% of Hedeker Wealth LLC’s holdings, making the stock its 5th largest holding. Hedeker Wealth LLC’s holdings in Apple were worth $13,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AAPL. Foresight Capital Management Advisors Inc. grew its position in Apple by 0.3% during the second quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after buying an additional 55 shares in the last quarter. Hoese & Co LLP grew its position in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares in the last quarter. Stableford Capital II LLC grew its position in Apple by 0.3% during the first quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock worth $2,942,000 after buying an additional 59 shares in the last quarter. Whitcomb & Hess Inc. grew its position in Apple by 1.7% during the second quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock worth $746,000 after buying an additional 59 shares in the last quarter. Finally, Kwmg LLC grew its position in Apple by 0.6% during the first quarter. Kwmg LLC now owns 10,640 shares of the iPhone maker’s stock worth $1,825,000 after buying an additional 60 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction 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 sale, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the 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 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction 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 transaction, 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 113,884 shares of company stock worth $23,723,887 over the last 90 days. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AAPL shares. Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, September 10th. Raymond James increased their price target on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research note on Thursday, September 12th. Bank of America restated a “buy” rating and set a $256.00 target price on shares of Apple in a research note on Thursday, September 5th. Finally, Melius Research restated a “buy” rating and set a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Apple Price Performance

Shares of AAPL opened at $216.79 on Wednesday. The company has a 50 day moving average price of $222.67 and a 200-day moving average price of $199.26. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The stock has a market capitalization of $3.32 trillion, a PE ratio of 33.72, a PEG ratio of 2.62 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

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. 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 analysts’ expectations of $84.43 billion. During the same quarter in the prior year, the company posted $1.26 earnings per share. Apple’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were paid 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 0.46%. Apple’s payout ratio is currently 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.