Apple Inc. (NASDAQ:AAPL) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel reduced its holdings in Apple Inc. (NASDAQ:AAPL) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 654,966 shares of the iPhone maker’s stock after selling 22,817 shares during the quarter. Apple makes up about 4.3% of Carnegie Investment Counsel’s portfolio, making the stock its largest holding. Carnegie Investment Counsel’s holdings in Apple were worth $137,949,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Christopher J. Hasenberg Inc acquired a new stake in shares of Apple during the first quarter worth $35,000. Fidelis Capital Partners LLC raised its position in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after acquiring an additional 31,278 shares in the last quarter. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Apple in the 4th quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. boosted its holdings in shares of Apple by 657.1% during the 4th quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after buying an additional 368 shares in the last quarter. Finally, Clarity Asset Management Inc. bought a new stake in shares of Apple in the 4th quarter valued at $85,000. Institutional investors own 60.41% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of a number of research reports. Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday, September 10th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. DA Davidson raised Apple from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. Citigroup reaffirmed a “buy” rating and set a $255.00 target price on shares of Apple in a research report on Tuesday, August 27th. Finally, Evercore ISI restated an “outperform” rating and set a $250.00 price target on shares of Apple in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.17.

Insiders Place Their Bets

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated 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 sale, the senior vice president now owns 191,543 shares in the company, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 8,706 shares of the 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 transaction, the insider now 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 in the last ninety days. 0.06% of the stock is currently owned by insiders.

Apple Stock Performance

Shares of AAPL opened at $228.20 on Friday. The stock’s 50-day simple moving average is $222.41 and its 200 day simple moving average is $199.99. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.23. The stock has a market capitalization of $3.50 trillion, a price-to-earnings ratio of 35.49, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.06. The business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 EPS. Research analysts forecast that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is 15.55%.

About Apple

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.