Sollinda Capital Management LLC Buys 153 Shares of Apple Inc. (NASDAQ:AAPL)

Sollinda Capital Management LLC boosted its stake in Apple Inc. (NASDAQ:AAPL) by 1.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,153 shares of the iPhone maker’s stock after acquiring an additional 153 shares during the quarter. Apple comprises 0.5% of Sollinda Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. Sollinda Capital Management LLC’s holdings in Apple were worth $1,717,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Advisors Management Group Inc. ADV lifted its position in shares of Apple by 1.5% in the second quarter. Advisors Management Group Inc. ADV now owns 44,600 shares of the iPhone maker’s stock worth $9,394,000 after purchasing an additional 647 shares in the last quarter. Biechele Royce Advisors lifted its position in Apple by 13.0% during the 2nd quarter. Biechele Royce Advisors now owns 116,313 shares of the iPhone maker’s stock worth $24,498,000 after buying an additional 13,354 shares in the last quarter. Confluence Wealth Services Inc. boosted its stake in shares of Apple by 23.7% during the 2nd quarter. Confluence Wealth Services Inc. now owns 185,289 shares of the iPhone maker’s stock worth $39,026,000 after buying an additional 35,537 shares during the last quarter. Graypoint LLC grew its holdings in shares of Apple by 6.2% in the 2nd quarter. Graypoint LLC now owns 222,310 shares of the iPhone maker’s stock valued at $46,823,000 after acquiring an additional 12,983 shares in the last quarter. Finally, Austin Wealth Management LLC increased its position in shares of Apple by 2.8% in the second quarter. Austin Wealth Management LLC now owns 24,374 shares of the iPhone maker’s stock valued at $5,547,000 after acquiring an additional 672 shares during the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of analyst reports. Raymond James upped their price objective on Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Wedbush restated an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. Piper Sandler Companies reissued a “neutral” rating and set a $225.00 price target (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and increased their target price for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Citigroup reissued a “buy” rating and set a $255.00 price target on shares of Apple in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

Apple Stock Performance

Apple stock opened at $227.55 on Friday. The company has a market capitalization of $3.49 trillion, a P/E ratio of 35.39, a P/E/G ratio of 2.40 and a beta of 1.24. The business has a 50 day moving average of $223.62 and a 200-day moving average of $205.95. 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 Inc. has a 1 year low of $164.07 and a 1 year high of $237.23.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, equities research analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The company 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 of this dividend was Monday, August 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insider Activity

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were 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 owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Luca Maestri sold 59,305 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by 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.