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Apple Inc. $AAPL Shares Sold by Columbia Asset Management

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Key Points

  • Columbia Asset Management reduced its stake in Apple by 58.2% in the second quarter, selling 290,020 shares and now holding 208,272 shares worth approximately $42.7 million.
  • Apple reported quarterly earnings with $1.57 EPS, exceeding analysts’ expectations, and generated $94.04 billion in revenue, marking a 9.6% increase year-over-year.
  • Apple recently declared a quarterly dividend of $0.26 per share, with a dividend yield of 0.4% and a payout ratio of 15.78%.
  • MarketBeat previews the top five stocks to own by November 1st.

Columbia Asset Management lessened its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 58.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 208,272 shares of the iPhone maker's stock after selling 290,020 shares during the period. Apple makes up 8.4% of Columbia Asset Management's investment portfolio, making the stock its 2nd largest holding. Columbia Asset Management's holdings in Apple were worth $42,731,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. First National Bank of Hutchinson increased its holdings in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC increased 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 valued at $13,544,000 after acquiring an additional 272 shares in the last quarter. Brighton Jones LLC increased 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 valued at $134,554,000 after acquiring an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC increased 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 valued at $16,742,000 after acquiring an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE boosted its stake in shares of 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 purchasing an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Up 2.0%

AAPL opened at $252.29 on Monday. The firm has a market capitalization of $3.74 trillion, a P/E ratio of 38.28, a P/E/G ratio of 2.46 and a beta of 1.09. The firm's 50 day moving average is $241.13 and its 200-day moving average is $216.91. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 earnings per share. Analysts expect that Apple Inc. will post 7.28 EPS for the current fiscal 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 paid a dividend of $0.26 per share. The ex-dividend date 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 (DPR) is currently 15.78%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Tigress Financial raised their price target on shares of Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, September 17th. Barclays raised their price target on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Citigroup reaffirmed a "buy" rating on shares of Apple in a research note on Wednesday, September 10th. Evercore ISI set a $290.00 target price on shares of Apple and gave the stock an "outperform" rating in a research report on Friday, September 26th. Finally, Melius Research set a $290.00 target price on shares of Apple and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $248.29.

Read Our Latest Stock Analysis on AAPL

Insider Activity

In other news, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Deirdre O'brien sold 43,013 shares of Apple stock in a transaction 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 completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 259,121 shares of company stock worth $65,358,981. Company insiders own 0.06% of the company's stock.

Apple Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPL - Free Report).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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