1620 Investment Advisors Inc. Sells 46 Shares of Apple Inc. (NASDAQ:AAPL)

1620 Investment Advisors Inc. decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,609 shares of the iPhone maker’s stock after selling 46 shares during the quarter. Apple makes up approximately 1.6% of 1620 Investment Advisors Inc.’s holdings, making the stock its 10th biggest holding. 1620 Investment Advisors Inc.’s holdings in Apple were worth $2,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Foresight Capital Management Advisors Inc. grew its holdings in shares of Apple by 0.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock valued at $4,003,000 after acquiring an additional 55 shares in the last quarter. Altus Wealth Management LLC grew its holdings in shares of Apple by 0.6% during the 2nd quarter. Altus Wealth Management LLC now owns 9,508 shares of the iPhone maker’s stock valued at $2,002,000 after acquiring an additional 55 shares in the last quarter. Hoese & Co LLP grew its holdings in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares in the last quarter. Stableford Capital II LLC grew its holdings in shares of Apple by 0.3% during the 1st quarter. Stableford Capital II LLC now owns 17,156 shares of the iPhone maker’s stock valued at $2,942,000 after acquiring an additional 59 shares in the last quarter. Finally, Whitcomb & Hess Inc. grew its holdings in shares of Apple by 1.7% during the 2nd quarter. Whitcomb & Hess Inc. now owns 3,540 shares of the iPhone maker’s stock valued at $746,000 after acquiring an additional 59 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research analyst reports. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Barclays lowered their price target on shares of Apple from $187.00 to $186.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Sanford C. Bernstein lifted their price objective on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Robert W. Baird lifted their price objective on shares of Apple from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, DA Davidson raised shares of Apple from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a research note on Tuesday, June 11th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.17.

Insider Activity

In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $5,223,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated 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 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 this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated 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 sale, the insider now directly 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 valued at $23,723,887. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.4 %

Shares of AAPL opened at $227.37 on Wednesday. The company has a 50-day simple moving average of $222.10 and a 200-day simple moving average of $201.22. The firm has a market capitalization of $3.49 trillion, a P/E ratio of 35.36, a P/E/G 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 Inc. has a 52 week low of $164.07 and a 52 week high of $237.23.

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

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders 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 dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio is currently 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.