Apple Inc. $AAPL Shares Sold by A. D. Beadell Investment Counsel Inc.

Key Points

• A. D. Beadell Investment Counsel Inc. reduced its stake in Apple Inc. by 8.9%, selling 1,049 shares and bringing its total holdings to 10,687 shares, valued at about $2.19 million.
• Insider sales at Apple included SVP Katherine L. Adams selling 47,125 shares for over $12 million, representing a 20.83% decrease in her position.
• Despite some stock sales, Wall Street reports indicate optimistic future growth for Apple, with an average target price of $248.29 and ratings ranging from Strong Buy to Hold.

A. D. Beadell Investment Counsel Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,687 shares of the iPhone maker's stock after selling 1,049 shares during the quarter. Apple makes up approximately 1.7% of A. D. Beadell Investment Counsel Inc.'s holdings, making the stock its 22nd biggest holding. A. D. Beadell Investment Counsel Inc.'s holdings in Apple were worth $2,192,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ryan Investment Management Inc. bought a new stake in shares of Apple during the 2nd quarter valued at about $31,000. ROSS JOHNSON & Associates LLC boosted its holdings 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 acquiring an additional 180 shares in the last quarter. Elite Financial Inc. bought a new position in shares of Apple in the first quarter valued at approximately $58,000. Conquis Financial LLC bought a new position in shares of Apple in the fourth quarter valued at approximately $63,000. Finally, LSV Asset Management acquired a new position in Apple in the fourth quarter worth approximately $65,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Deirdre O'brien sold 43,013 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $35,181,866.93. This represents a 23.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,922 shares of company stock worth $64,320,190. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Down 1.6%

Shares of AAPL stock opened at $254.04 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. The company has a market capitalization of $3.77 trillion, a P/E ratio of 38.55, a P/E/G ratio of 2.51 and a beta of 1.09. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a 50-day moving average price of $236.75 and a 200 day moving average price of $215.77.

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

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

AAPL has been the topic of several research reports. Monness Crespi & Hardt upped their price target on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. UBS Group reiterated a "neutral" rating on shares of Apple in a research note on Monday, September 8th. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Apple in a research note on Wednesday. Finally, Citigroup restated a "buy" rating on shares of Apple in a research note on Wednesday, September 10th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $248.29.

Apple 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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