Stevens Capital Partners Has $1.97 Million Position in Apple Inc. (NASDAQ:AAPL)

Stevens Capital Partners lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 13.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,342 shares of the iPhone maker’s stock after selling 1,430 shares during the period. Apple makes up approximately 1.0% of Stevens Capital Partners’ holdings, making the stock its 19th largest position. Stevens Capital Partners’ holdings in Apple were worth $1,968,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Glassy Mountain Advisors Inc. raised its stake in Apple by 1.8% during the 2nd quarter. Glassy Mountain Advisors Inc. now owns 76,881 shares of the iPhone maker’s stock valued at $16,193,000 after purchasing an additional 1,368 shares during the last quarter. Ritholtz Wealth Management raised its position in shares of Apple by 5.8% during the second quarter. Ritholtz Wealth Management now owns 473,925 shares of the iPhone maker’s stock valued at $99,818,000 after buying an additional 25,984 shares during the last quarter. Auxano Advisors LLC lifted its stake in shares of Apple by 22.3% in the second quarter. Auxano Advisors LLC now owns 142,290 shares of the iPhone maker’s stock valued at $29,969,000 after buying an additional 25,949 shares during the period. Stegent Equity Advisors Inc. grew its position in Apple by 10.7% during the second quarter. Stegent Equity Advisors Inc. now owns 7,887 shares of the iPhone maker’s stock worth $1,661,000 after buying an additional 765 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. increased its stake in Apple by 1.6% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 148,820 shares of the iPhone maker’s stock valued at $31,344,000 after acquiring an additional 2,380 shares during the period. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of NASDAQ:AAPL opened at $231.30 on Tuesday. 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 stock has a market capitalization of $3.55 trillion, a P/E ratio of 35.97, a P/E/G ratio of 2.40 and a beta of 1.24. The business has a 50-day moving average price of $224.06 and a two-hundred day moving average price of $206.60. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $237.23.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates 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%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 EPS. Equities analysts predict that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Insider Transactions at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $111,148,695.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at $5,223,062.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AAPL. Piper Sandler Companies restated a “neutral” rating and set a $225.00 price objective (up from $190.00) on shares of Apple in a research report on Tuesday, July 9th. UBS Group boosted their price target on shares of Apple from $190.00 to $236.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Maxim Group reaffirmed a “hold” rating and set a $203.00 price objective on shares of Apple in a report on Tuesday, September 10th. Sanford C. Bernstein upped their target price on shares of Apple from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.27.

About Apple

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.