Apexium Financial LP Trims Position in Apple Inc. $AAPL

Apexium Financial LP trimmed its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244,498 shares of the iPhone maker's stock after selling 2,110 shares during the quarter. Apple accounts for approximately 2.7% of Apexium Financial LP's holdings, making the stock its 6th biggest holding. Apexium Financial LP's holdings in Apple were worth $50,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ryan Investment Management Inc. bought a new stake in Apple during the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after acquiring an additional 180 shares during the last quarter. Elite Financial Inc. purchased a new position in shares of Apple in the first quarter worth approximately $58,000. LSV Asset Management bought a new position in Apple in the 4th quarter worth $65,000. Finally, HFM Investment Advisors LLC bought a new stake in Apple during the 1st quarter worth approximately $99,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy D. Cook sold 129,963 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 259,121 shares of company stock valued at $65,358,981. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Evercore ISI restated an "outperform" rating on shares of Apple in a research report on Monday, October 20th. UBS Group reaffirmed a "neutral" rating on shares of Apple in a report on Monday, September 8th. CLSA upgraded Apple to a "strong-buy" rating in a research report on Sunday, October 5th. Finally, HSBC set a $220.00 target price on shares of Apple and gave the company a "hold" rating in a research note on Monday, September 8th. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $252.47.

Apple Stock Up 1.2%

AAPL stock opened at $262.82 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $265.29. The stock has a market capitalization of $3.90 trillion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 2.56 and a beta of 1.09. The firm has a 50 day moving average of $244.15 and a 200 day moving average of $219.51.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

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

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.

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