Darrow Company Inc. Sells 108 Shares of Apple Inc. (NASDAQ:AAPL)

Darrow Company Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 3.7% during the second quarter, HoldingsChannel.com reports. The fund owned 2,829 shares of the iPhone maker’s stock after selling 108 shares during the quarter. Darrow Company Inc.’s holdings in Apple were worth $596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Apple by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,318,064,349 shares of the iPhone maker’s stock valued at $253,766,929,000 after acquiring an additional 18,067,216 shares during the last quarter. Norges Bank bought a new stake in shares of Apple in the 4th quarter worth about $33,912,466,000. Wellington Management Group LLP increased its holdings in shares of Apple by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 60,651,275 shares of the iPhone maker’s stock worth $11,677,190,000 after buying an additional 2,096,360 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Apple by 2.0% in the 4th quarter. Fisher Asset Management LLC now owns 54,702,300 shares of the iPhone maker’s stock worth $10,531,834,000 after buying an additional 1,067,587 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Apple by 7.1% in the 1st quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after buying an additional 2,474,887 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Price Performance

Shares of AAPL opened at $227.37 on Wednesday. The company has a 50 day moving average price of $222.10 and a 200-day moving average price of $201.22. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The stock has a market capitalization of $3.49 trillion, a PE ratio of 35.36, a PEG 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 announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share 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 firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. Equities analysts predict that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders 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 annualized dividend and a dividend yield of 0.44%. Apple’s payout ratio is presently 15.55%.

Analyst Ratings Changes

A number of analysts have recently weighed in on AAPL shares. DA Davidson upgraded shares of Apple from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a report on Tuesday, June 11th. Piper Sandler Companies restated a “neutral” rating and issued a $225.00 target price (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Erste Group Bank upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Evercore ISI restated an “outperform” rating and issued a $250.00 target price on shares of Apple in a report on Monday, September 16th. Finally, Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the stock 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $239.17.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction that occurred 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 owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, 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 document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,884 shares of company stock valued at $23,723,887. Company insiders own 0.06% of the company’s stock.

Apple Company 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.