Apple Inc. (NASDAQ:AAPL) is Eagle Bay Advisors LLC’s Largest Position

Eagle Bay Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,181 shares of the iPhone maker’s stock after selling 1,468 shares during the period. Apple makes up approximately 7.5% of Eagle Bay Advisors LLC’s holdings, making the stock its biggest holding. Eagle Bay Advisors LLC’s holdings in Apple were worth $12,465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Christopher J. Hasenberg Inc bought a new stake in Apple during the first quarter worth approximately $35,000. Fidelis Capital Partners LLC lifted its stake in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $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 approximately $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 stake in Apple during the 4th quarter valued at $85,000. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of Apple stock opened at $225.67 on Friday. The company has a market capitalization of $3.46 trillion, a PE ratio of 35.10, a P/E/G ratio of 2.66 and a beta of 1.24. The company has a 50-day simple moving average of $222.72 and a two-hundred day simple moving average of $203.50. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. 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 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. The firm 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%. Apple’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.26 EPS. Research analysts expect that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio is presently 15.55%.

Analyst Ratings Changes

A number of research analysts have weighed in on AAPL shares. Oppenheimer reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Apple in a report on Thursday, September 19th. Melius Research reissued a “buy” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, August 27th. UBS Group boosted their target price on Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.76.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple 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 completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The disclosure for this sale can be found here. Insiders sold 458,619 shares of company stock valued at $101,352,630 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

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.