Apple Inc. (NASDAQ:AAPL) Position Trimmed by Adaptive Financial Consulting LLC

Adaptive Financial Consulting LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,117 shares of the iPhone maker’s stock after selling 249 shares during the period. Apple comprises about 0.2% of Adaptive Financial Consulting LLC’s holdings, making the stock its 17th biggest holding. Adaptive Financial Consulting LLC’s holdings in Apple were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Apple by 1.4% during 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 Apple in the fourth quarter valued at about $33,912,466,000. Wellington Management Group LLP raised 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 in the last quarter. Fisher Asset Management LLC increased its position in shares of Apple by 2.0% during 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 purchasing an additional 1,067,587 shares in the last quarter. Finally, Capital International Investors increased its holdings in shares of Apple by 7.1% during the first 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 in the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research report on Thursday, September 19th. Rosenblatt Securities restated a “buy” rating and issued a $261.00 price objective on shares of Apple in a report on Tuesday, September 10th. Tigress Financial upped their price objective on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. The Goldman Sachs Group raised their price objective on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $238.76.

Apple Price Performance

Shares of AAPL opened at $233.00 on Tuesday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.23. The firm has a market capitalization of $3.57 trillion, a PE ratio of 36.24, a PEG ratio of 2.66 and a beta of 1.24. The company’s 50-day moving average is $222.37 and its 200-day moving average is $202.80. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid 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 0.43%. Apple’s dividend payout ratio (DPR) is 15.55%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 8,706 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at $3,469,275. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction 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 $39,542,136.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,958,850.00. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,469,275. The disclosure for this sale can be found here. Insiders sold 113,884 shares of company stock worth $23,723,887 over the last three months. 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.