Charter Oak Capital Management LLC Lowers Stake in Apple Inc. (NASDAQ:AAPL)

Charter Oak Capital Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 77,966 shares of the iPhone maker’s stock after selling 1,712 shares during the period. Apple accounts for 1.7% of Charter Oak Capital Management LLC’s portfolio, making the stock its 10th largest holding. Charter Oak Capital Management LLC’s holdings in Apple were worth $16,421,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Christopher J. Hasenberg Inc acquired a new position in Apple in the first quarter valued at approximately $35,000. Fidelis Capital Partners LLC increased its position in shares of Apple by 17.9% during the 1st 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. bought a new position in Apple during the fourth quarter worth about $39,000. University of Texas Texas AM Investment Managment Co. boosted its position in Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in shares of Apple during the fourth quarter worth approximately $85,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction of $20,644,000.00. Following the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Chris Kondo sold 8,706 shares of Apple stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. The disclosure for this sale can be found here. Insiders have sold a total of 113,884 shares of company stock valued at $23,723,887 over the last quarter. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Maxim Group reaffirmed a “hold” rating and set a $203.00 target price on shares of Apple in a report on Tuesday, September 10th. Oppenheimer reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Thursday, September 19th. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $285.00 price target on shares of Apple in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average price target of $238.76.

Apple Trading Up 0.5 %

AAPL opened at $227.52 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year 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. The company has a market cap of $3.49 trillion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The company has a fifty day moving average price of $222.05 and a two-hundred day moving average price of $201.39.

Apple (NASDAQ:AAPL) last released 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 business had revenue of $85.78 billion for the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

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

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.