Apple Inc. $AAPL is Thurston Springer Miller Herd & Titak Inc.'s 4th Largest Position

Key Points

• Thurston Springer Miller Herd & Titak Inc. has reduced its holdings in Apple Inc. by 10.8%, making Apple the 4th largest position in their portfolio, valued at $16,782,000.
• Multiple institutional investors have increased their stakes in Apple during the second quarter, with some notable increases such as Discipline Wealth Solutions LLC at 69.7% and RB Capital Management LLC at 48.1%.
• Apple reported earnings of $1.57 per share, surpassing analysts' expectations, with a revenue of $94.04 billion for the quarter, marking a 9.6% year-over-year growth.

Thurston Springer Miller Herd & Titak Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 10.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,786 shares of the iPhone maker's stock after selling 9,876 shares during the period. Apple comprises approximately 2.2% of Thurston Springer Miller Herd & Titak Inc.'s investment portfolio, making the stock its 4th biggest position. Thurston Springer Miller Herd & Titak Inc.'s holdings in Apple were worth $16,782,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. First National Bank of Hutchinson grew its holdings in Apple by 24.6% during the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC grew its holdings in Apple by 0.5% during the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after acquiring an additional 272 shares during the period. Brighton Jones LLC grew its holdings in Apple by 14.8% during the 4th quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after acquiring an additional 69,207 shares during the period. Revolve Wealth Partners LLC grew its holdings in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE grew its holdings in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock worth $12,587,000 after acquiring an additional 1,155 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of Apple stock traded down $1.11 during mid-day trading on Thursday, hitting $237.88. 44,143,988 shares of the stock were exchanged, compared to its average volume of 46,887,444. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company has a 50-day simple moving average of $223.15 and a 200 day simple moving average of $212.36. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.53 trillion, a P/E ratio of 36.10, a P/E/G ratio of 2.48 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last posted its 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 net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter last year, the firm earned $1.40 EPS. The company's quarterly revenue was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares in the company, valued at $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 is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AAPL shares. Wedbush reiterated an "outperform" rating and set a $270.00 price target on shares of Apple in a report on Tuesday, September 9th. Barclays increased their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. HSBC set a $220.00 price objective on shares of Apple and gave the stock a "hold" rating in a research report on Monday, September 8th. JPMorgan Chase & Co. increased their price objective on shares of Apple from $250.00 to $255.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Evercore ISI increased their price objective on shares of Apple from $250.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $241.93.

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.