Apple Inc. (NASDAQ:AAPL) Position Trimmed by Mayfair Advisory Group LLC

Mayfair Advisory Group LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 1.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 30,101 shares of the iPhone maker’s stock after selling 537 shares during the quarter. Apple comprises approximately 4.7% of Mayfair Advisory Group LLC’s portfolio, making the stock its 6th biggest holding. Mayfair Advisory Group LLC’s holdings in Apple were worth $6,939,000 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. Yeomans Consulting Group Inc. purchased a new position in Apple in the 4th quarter worth approximately $1,713,000. Raleigh Capital Management Inc. increased its holdings in shares of Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after buying an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA acquired a new stake in shares of Apple during the 4th quarter worth approximately $38,406,000. Barden Capital Management Inc. increased its holdings in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after buying an additional 18,615 shares during the last quarter. Finally, Sunpointe LLC acquired a new stake in shares of Apple during the 4th quarter worth approximately $4,782,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Apple stock opened at $228.20 on Friday. The stock has a market cap of $3.50 trillion, a P/E ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The company has a fifty day simple moving average of $222.41 and a 200-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 data 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 during 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 company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 EPS. Equities analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were given a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AAPL. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a report on Thursday. The Goldman Sachs Group raised their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America restated a “buy” rating and set a $256.00 price target on shares of Apple in a report on Thursday, September 5th. Wedbush restated an “outperform” rating and set a $285.00 price target on shares of Apple in a report on Monday, September 9th. Finally, Tigress Financial lifted their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $239.17.

Insider Activity at Apple

In related news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now directly owns 24,125 shares of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the transaction, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Insiders sold a total of 113,884 shares of company stock valued at $23,723,887 over 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.