Moors & Cabot Inc. Lowers Position in Apple Inc. (NASDAQ:AAPL)

Moors & Cabot Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 431,781 shares of the iPhone maker’s stock after selling 4,378 shares during the quarter. Apple comprises about 4.8% of Moors & Cabot Inc.’s holdings, making the stock its 2nd biggest position. Moors & Cabot Inc.’s holdings in Apple were worth $90,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Access Investment Management LLC purchased a new stake in Apple during the first quarter valued at approximately $140,000. Hoese & Co LLP increased its holdings in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after buying an additional 57 shares during the last quarter. Sage Financial Group Inc. purchased a new stake in Apple during the second quarter valued at approximately $206,000. Benchmark Wealth Management LLC purchased a new stake in Apple during the second quarter valued at approximately $208,000. Finally, Sequent Asset Management LLC purchased a new stake in Apple during the second quarter valued at approximately $214,000. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on AAPL shares. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and increased their price objective for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Maxim Group increased their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday. Oppenheimer reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Moffett Nathanson initiated coverage on shares of Apple in a research note on Monday, August 19th. They set a “neutral” rating and a $211.00 target price for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.23.

Apple Trading Down 1.3 %

NASDAQ AAPL opened at $222.91 on Monday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95. The company has a market capitalization of $3.39 trillion, a price-to-earnings ratio of 36.66, a price-to-earnings-growth ratio of 2.41 and a beta of 1.24. The company’s 50-day simple moving average is $227.18 and its two-hundred day simple moving average is $212.64. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 145.09%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. Equities analysts forecast that Apple Inc. will post 7.48 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, November 11th. Apple’s payout ratio is currently 16.45%.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred 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 transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 417,924 shares of company stock valued at $94,142,399 in the last 90 days. 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.