Apple Inc. (NASDAQ:AAPL) Shares Sold by Autumn Glory Partners LLC

Autumn Glory Partners LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 77.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,655 shares of the iPhone maker’s stock after selling 42,621 shares during the quarter. Apple comprises about 1.3% of Autumn Glory Partners LLC’s investment portfolio, making the stock its 19th largest holding. Autumn Glory Partners LLC’s holdings in Apple were worth $2,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cardinal Capital Management Inc. raised its stake in shares of Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after purchasing an additional 221 shares in the last quarter. Shore Point Advisors LLC bought a new stake in shares of Apple during the fourth quarter valued at about $41,000. St. James Investment Advisors LLC bought a new stake in shares of Apple during the fourth quarter valued at about $57,000. Emerson Wealth LLC raised its stake in shares of Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp raised its stake in shares of Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 57.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AAPL shares. Piper Sandler cut their price objective on shares of Apple from $200.00 to $195.00 in a research note on Friday, April 29th. The Goldman Sachs Group set a $139.00 price target on shares of Apple in a research report on Friday, July 29th. KeyCorp boosted their price target on shares of Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Itaú Unibanco assumed coverage on shares of Apple in a research report on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price target on the stock. Finally, Bank of America dropped their price target on shares of Apple from $200.00 to $185.00 in a research report on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.18.

Apple Trading Down 0.2 %

NASDAQ:AAPL opened at $167.23 on Wednesday. The stock has a market cap of $2.69 trillion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 2.22 and a beta of 1.23. The stock’s 50-day moving average is $152.54 and its two-hundred day moving average is $157.29. Apple Inc. has a fifty-two week low of $129.04 and a fifty-two week high of $182.94. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82.

Apple (NASDAQ:AAPLGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analysts’ expectations of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. As a group, equities research analysts forecast that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.55%. Apple’s payout ratio is 15.18%.

Apple announced that its Board of Directors has initiated a share repurchase program on Thursday, April 28th that authorizes the company to buyback $90.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

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