Apple Inc. (NASDAQ:AAPL) Holdings Decreased by Stephenson & Company Inc.

Stephenson & Company Inc. reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 20.4% during the second quarter, Holdings Channel.com reports. The firm owned 6,988 shares of the iPhone maker’s stock after selling 1,790 shares during the period. Apple accounts for about 1.1% of Stephenson & Company Inc.’s portfolio, making the stock its 16th biggest position. Stephenson & Company Inc.’s holdings in Apple were worth $1,472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bellwether Advisors LLC raised its holdings in Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock worth $5,128,000 after buying an additional 19,352 shares during the period. Gentry Private Wealth LLC purchased a new position in Apple during the 2nd quarter valued at about $876,000. WT Asset Management Ltd purchased a new position in Apple during the 2nd quarter valued at about $80,057,000. Councilmark Asset Management LLC purchased a new position in Apple during the 1st quarter valued at about $11,776,000. Finally, TD Asset Management Inc grew its stake in Apple by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock valued at $3,526,874,000 after acquiring an additional 1,557,848 shares in the last quarter. 60.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. KeyCorp reaffirmed a “hold” rating and set a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. Moffett Nathanson assumed coverage on Apple in a research note on Monday, August 19th. They issued a “neutral” rating and a $211.00 price target for the company. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price target on shares of Apple in a research note on Tuesday, September 10th. Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 price target (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $261.00 price target on shares of Apple in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $237.27.

Apple Stock Down 0.1 %

Shares of NASDAQ:AAPL opened at $230.57 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a market cap of $3.54 trillion, a PE ratio of 35.86, a P/E/G ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The stock’s 50-day moving average is $226.64 and its 200 day moving average is $209.48.

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 firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. During the same quarter in the prior year, the business earned $1.26 EPS. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 annualized dividend and a yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at $39,542,136.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 5,178 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The trade was 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 owned by corporate insiders.

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.