Apple Inc. (NASDAQ:AAPL) is Sfmg LLC’s 7th Largest Position

Sfmg LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,523 shares of the iPhone maker’s stock after selling 892 shares during the quarter. Apple makes up 4.1% of Sfmg LLC’s portfolio, making the stock its 7th largest holding. Sfmg LLC’s holdings in Apple were worth $47,289,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AAPL. Nvest Financial LLC lifted its stake in shares of Apple by 3.9% during the 1st quarter. Nvest Financial LLC now owns 34,386 shares of the iPhone maker’s stock valued at $5,896,000 after buying an additional 1,299 shares in the last quarter. Myecfo LLC raised its holdings in Apple by 2.5% during the first quarter. Myecfo LLC now owns 15,356 shares of the iPhone maker’s stock valued at $2,633,000 after acquiring an additional 376 shares during the period. Naviter Wealth LLC lifted its position in shares of Apple by 25.4% in the first quarter. Naviter Wealth LLC now owns 91,088 shares of the iPhone maker’s stock valued at $15,620,000 after acquiring an additional 18,441 shares in the last quarter. Saxon Interests Inc. boosted its stake in shares of Apple by 8.9% in the first quarter. Saxon Interests Inc. now owns 41,398 shares of the iPhone maker’s stock worth $7,099,000 after acquiring an additional 3,383 shares during the period. Finally, MBM Wealth Consultants LLC grew its position in shares of Apple by 4.5% during the first quarter. MBM Wealth Consultants LLC now owns 13,278 shares of the iPhone maker’s stock worth $2,277,000 after purchasing an additional 575 shares in the last quarter. Institutional investors own 60.41% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. 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 available through the SEC website. In related news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 412,746 shares of company stock worth $93,021,362 in the last ninety days. 0.06% of the stock is owned by company insiders.

Apple Stock Down 1.2 %

NASDAQ:AAPL opened at $224.23 on Tuesday. The stock has a fifty day simple moving average of $226.82 and a 200-day simple moving average of $214.68. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.39 trillion, a price-to-earnings ratio of 36.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 EPS. Analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Monday, November 11th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.45%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Analyst Ratings Changes

Several research analysts have weighed in on AAPL shares. Maxim Group upped their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Wedbush restated an “outperform” rating and set a $285.00 target price on shares of Apple in a research report on Monday, September 9th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Evercore ISI reissued a “buy” rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Finally, Raymond James raised their price objective on Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.51.

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.