Apple Inc. $AAPL Shares Sold by Eagle Bay Advisors LLC

Key Points

• Eagle Bay Advisors LLC sold 1,430 shares of Apple Inc., reducing its stake by 3.2%, leaving it with 43,476 shares worth approximately $8.92 million, accounting for 7.4% of its portfolio.
• Institutional investors and hedge funds collectively own 67.73% of Apple's stock, indicating significant institutional confidence in the company.
• Apple recently announced a $0.26 quarterly dividend with a yield of 0.4%, and reported earnings per share of $1.57, exceeding analysts' estimates.

Eagle Bay Advisors LLC lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,476 shares of the iPhone maker's stock after selling 1,430 shares during the quarter. Apple accounts for about 7.4% of Eagle Bay Advisors LLC's portfolio, making the stock its 2nd largest holding. Eagle Bay Advisors LLC's holdings in Apple were worth $8,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AAPL. Burkett Financial Services LLC increased its stake in shares of Apple by 0.6% in the 1st quarter. Burkett Financial Services LLC now owns 14,401 shares of the iPhone maker's stock valued at $3,199,000 after purchasing an additional 93 shares in the last quarter. Avid Wealth Partners LLC increased its stake in shares of Apple by 28.3% in the 1st quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker's stock valued at $935,000 after purchasing an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC increased its stake in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker's stock valued at $13,772,000 after purchasing an additional 240 shares in the last quarter. OneAscent Wealth Management LLC increased its stake in shares of Apple by 4.6% in the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock valued at $2,337,000 after purchasing an additional 409 shares in the last quarter. Finally, Andina Capital Management LLC increased its stake in shares of Apple by 209.2% in the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock valued at $1,507,000 after purchasing an additional 4,591 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's 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 represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AAPL. Rosenblatt Securities lifted their price target on Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. Barclays lifted their price target on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. HSBC set a $220.00 price target on Apple and gave the company a "hold" rating in a research note on Monday, September 8th. The Goldman Sachs Group reiterated a "buy" rating and set a $266.00 price objective on shares of Apple in a research note on Tuesday, August 26th. Finally, BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $245.66.

Apple Price Performance

AAPL stock opened at $255.46 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50 day simple moving average of $228.87 and a 200-day simple moving average of $213.22. The firm has a market capitalization of $3.79 trillion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 2.65 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results 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. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the business earned $1.40 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

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.

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.