Apple Inc. $AAPL Position Reduced by Neville Rodie & Shaw Inc.

Key Points

• Neville Rodie & Shaw Inc. has reduced its holdings in Apple Inc. by 5.0%, trimming down to 540,790 shares after selling 28,169 shares during the 2nd quarter, making Apple its largest holding at a valuation of $110,954,000.
• Apple reported $1.57 EPS for the last quarter, surpassing estimates, with revenue reaching $94.04 billion, a 9.6% year-over-year increase.
• The company recently announced a quarterly dividend of $0.26 per share, translating into an annualized yield of 0.4% and a payout ratio of 15.78%.

Neville Rodie & Shaw Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 540,790 shares of the iPhone maker's stock after selling 28,169 shares during the period. Apple accounts for approximately 8.2% of Neville Rodie & Shaw Inc.'s investment portfolio, making the stock its largest holding. Neville Rodie & Shaw Inc.'s holdings in Apple were worth $110,954,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AAPL. ROSS JOHNSON & Associates LLC lifted its holdings in 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 acquiring an additional 180 shares during the period. Conquis Financial LLC acquired a new position in shares of Apple during the 4th quarter worth approximately $63,000. LSV Asset Management acquired a new position in shares of Apple during the 4th quarter worth approximately $65,000. Elite Financial Inc. acquired a new position in shares of Apple during the 1st quarter worth approximately $58,000. Finally, HFM Investment Advisors LLC acquired a new position in Apple in the 1st quarter valued at $99,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Up 3.2%

Shares of NASDAQ AAPL traded up $7.62 during midday trading on Friday, hitting $245.50. 163,435,991 shares of the company's stock were exchanged, compared to its average volume of 47,568,860. The company has a market cap of $3.64 trillion, a PE ratio of 37.25, a P/E/G ratio of 2.47 and a beta of 1.11. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The firm's fifty day simple moving average is $224.35 and its 200-day simple moving average is $212.42. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

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 the consensus estimate 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 analyst estimates of $88.64 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year. Research analysts predict that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

Insider Buying and Selling at Apple

In other Apple news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AAPL shares. Loop Capital reduced their price objective on Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research note on Thursday, August 21st. HSBC set a $220.00 price target on Apple and gave the stock a "hold" rating in a report on Monday, September 8th. Melius Research set a $290.00 target price on Apple and gave the stock a "buy" rating in a research note on Wednesday, September 10th. UBS Group reissued a "neutral" rating on shares of Apple in a research note on Monday, September 8th. Finally, Bank of America increased their price target on Apple from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Apple presently has an average rating of "Moderate Buy" and a consensus price target of $242.74.

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.