Consolidated Investment Group LLC Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Consolidated Investment Group LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 21.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 66,172 shares of the iPhone maker’s stock after selling 17,912 shares during the period. Apple makes up about 2.2% of Consolidated Investment Group LLC’s portfolio, making the stock its 11th largest position. Consolidated Investment Group LLC’s holdings in Apple were worth $13,937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. BigSur Wealth Management LLC boosted its position in Apple by 2.2% in the second quarter. BigSur Wealth Management LLC now owns 52,103 shares of the iPhone maker’s stock worth $10,974,000 after purchasing an additional 1,120 shares during the last quarter. Freedom Day Solutions LLC increased its stake in Apple by 0.8% in the 2nd quarter. Freedom Day Solutions LLC now owns 43,317 shares of the iPhone maker’s stock worth $9,123,000 after acquiring an additional 349 shares during the last quarter. Kraft Asset Management LLC increased its position in shares of Apple by 56.7% during the 2nd quarter. Kraft Asset Management LLC now owns 2,267 shares of the iPhone maker’s stock valued at $477,000 after purchasing an additional 820 shares during the last quarter. Cidel Asset Management Inc. increased its position in shares of Apple by 8.5% during the 2nd quarter. Cidel Asset Management Inc. now owns 78,733 shares of the iPhone maker’s stock valued at $16,583,000 after purchasing an additional 6,139 shares during the last quarter. Finally, Sunpointe LLC increased its position in shares of Apple by 15.9% during the 2nd quarter. Sunpointe LLC now owns 29,017 shares of the iPhone maker’s stock valued at $6,112,000 after purchasing an additional 3,979 shares during the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Down 0.3 %

Apple stock opened at $228.20 on Friday. The firm has a market cap of $3.50 trillion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.62 and a beta of 1.24. The stock has a fifty day simple moving average of $222.41 and a two-hundred day simple moving average of $200.19. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.06. The firm had revenue of $85.78 billion for 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 revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. Equities analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently declared 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 was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Oppenheimer restated an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Tuesday, September 10th. Melius Research reiterated a “buy” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Tuesday, September 10th. KeyCorp reiterated a “hold” rating and issued a $247.61 price objective on shares of Apple in a report on Wednesday, August 28th. Finally, Maxim Group reissued a “hold” rating and issued a $203.00 target price on shares of Apple in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $239.17.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,469,275. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the business’s stock in a transaction dated 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 owns 15,419 shares in the company, valued at $3,469,275. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock worth $23,723,887 in the last ninety days. 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.