Apple Inc. $AAPL Shares Sold by Advance Capital Management Inc.

Key Points

• Advance Capital Management Inc. sold 1,880 shares of Apple Inc., reducing its ownership by 5.5% to 32,417 shares during the second quarter, which now represent 0.3% of its portfolio.
• Apple's latest earnings report showed an earnings per share (EPS) of $1.57, exceeding expectations and marking a 9.6% year-over-year revenue increase to $94.04 billion.
• The company declared a quarterly dividend of $0.26 per share, resulting in an annual yield of 0.4%, with a payout ratio of 15.78%.

Advance Capital Management Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,417 shares of the iPhone maker's stock after selling 1,880 shares during the period. Apple accounts for about 0.3% of Advance Capital Management Inc.'s portfolio, making the stock its 24th largest holding. Advance Capital Management Inc.'s holdings in Apple were worth $6,651,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ROSS JOHNSON & Associates LLC grew its position in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares in the last quarter. Life Planning Partners Inc purchased a new stake in shares of Apple in the fourth quarter valued at approximately $47,000. Elite Financial Inc. purchased a new stake in shares of Apple in the first quarter valued at approximately $58,000. Conquis Financial LLC purchased a new stake in shares of Apple in the fourth quarter valued at approximately $63,000. Finally, LSV Asset Management purchased a new stake in shares of Apple in the fourth quarter valued at approximately $65,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Down 0.5%

NASDAQ:AAPL traded down $1.32 during trading hours on Tuesday, reaching $254.76. 30,536,489 shares of the stock were exchanged, compared to its average volume of 57,417,355. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average of $225.30 and a two-hundred day moving average of $212.22. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 38.67, a PEG ratio of 2.55 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year. On average, equities analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is 15.78%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Raymond James Financial reiterated an "outperform" rating and issued a $240.00 price objective (up from $230.00) on shares of Apple in a research report on Friday, August 1st. Barclays increased their price objective on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Finally, Evercore ISI increased their price objective on Apple from $250.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average target price of $244.03.

Apple Company 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.