Apple Inc. (NASDAQ:AAPL) Position Lessened by Canton Hathaway LLC

Canton Hathaway LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 22.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,030 shares of the iPhone maker’s stock after selling 6,149 shares during the quarter. Apple comprises about 1.2% of Canton Hathaway LLC’s holdings, making the stock its 10th largest position. Canton Hathaway LLC’s holdings in Apple were worth $4,429,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Christopher J. Hasenberg Inc bought a new stake in shares of Apple during the 1st quarter worth $35,000. Fidelis Capital Partners LLC lifted its stake in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Apple in the 4th quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. increased its position 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 valued at $82,000 after purchasing an additional 368 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new position in shares of Apple during the 4th quarter valued at about $85,000. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $228.20 on Friday. The company’s fifty day moving average price is $222.41 and its 200-day moving average price is $200.19. The stock has a market cap of $3.50 trillion, a PE ratio of 35.49, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. 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 Inc. has a 12 month low of $164.07 and a 12 month high of $237.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Apple’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was 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 directly owns 24,125 shares in the company, valued at $5,223,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred 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 owns 191,543 shares in the company, valued at $39,542,136.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction that occurred 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 sale, the insider now owns 24,125 shares in the company, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AAPL shares. Robert W. Baird increased their price target on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Tuesday, September 10th. 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. Finally, UBS Group boosted 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. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $239.17.

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.