Apple Inc. (NASDAQ:AAPL) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 11,989,274 shares of the iPhone maker’s stock after selling 25,399 shares during the quarter. Apple makes up about 4.0% of Commonwealth Equity Services LLC’s investment portfolio, making the stock its largest holding. Commonwealth Equity Services LLC’s holdings in Apple were worth $2,525,181,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. O Dell Group LLC raised its stake in shares of Apple by 4.1% during the fourth quarter. O Dell Group LLC now owns 100,031 shares of the iPhone maker’s stock valued at $19,259,000 after purchasing an additional 3,968 shares in the last quarter. Aspect Partners LLC bought a new stake in shares of Apple during the fourth quarter valued at about $381,000. Wealthquest Corp raised its stake in shares of Apple by 1.8% during the fourth quarter. Wealthquest Corp now owns 51,054 shares of the iPhone maker’s stock valued at $9,830,000 after purchasing an additional 887 shares in the last quarter. Clarity Asset Management Inc. bought a new stake in shares of Apple during the fourth quarter valued at about $85,000. Finally, Cim Investment Management Inc. raised its stake in shares of Apple by 2.2% during the fourth quarter. Cim Investment Management Inc. now owns 52,023 shares of the iPhone maker’s stock valued at $10,016,000 after purchasing an additional 1,114 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Cowen lifted their target price on Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Citigroup reaffirmed a “buy” rating and set a $255.00 target price on shares of Apple in a report on Wednesday, October 2nd. Tigress Financial lifted their target price on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Raymond James lifted their target price on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Evercore ISI reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $239.27.

Apple Price Performance

Shares of AAPL opened at $227.55 on Friday. The firm has a market cap of $3.49 trillion, a PE ratio of 35.39, a P/E/G ratio of 2.40 and a beta of 1.24. 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 firm has a fifty day simple moving average of $223.62 and a two-hundred day simple moving average of $205.70. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23.

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 return on equity of 147.15% and a net margin of 26.44%. Apple’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 EPS. On average, equities analysts anticipate that Apple Inc. will post 6.65 EPS 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 paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related 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 value of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 in the last three months. Corporate insiders own 0.06% of the company’s stock.

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.