Apple Inc. $AAPL Shares Sold by Financial Council LLC

Key Points

• Financial Council LLC reduced its holdings in Apple Inc. by 2.0% during the second quarter, selling 978 shares and now owning approximately $9.74 million worth of the stock.
• Insider transactions included CFO Kevan Parekh selling 4,199 shares and SVP Deirdre O'Brien selling 43,013 shares, indicating notable shifts in insider ownership.
• Apple's stock performance shows a 52-week high of $265.29 and a market cap of $3.90 trillion, with a recent quarterly earnings report exceeding analyst estimates.

Financial Council LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,458 shares of the iPhone maker's stock after selling 978 shares during the quarter. Apple accounts for about 4.7% of Financial Council LLC's holdings, making the stock its 5th biggest position. Financial Council LLC's holdings in Apple were worth $9,737,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Ryan Investment Management Inc. acquired a new position in shares of Apple during the second quarter valued at about $31,000. ROSS JOHNSON & Associates LLC grew its holdings in shares of Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after buying an additional 180 shares during the last quarter. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter valued at about $65,000. Elite Financial Inc. acquired a new position in shares of Apple during the first quarter valued at about $58,000. Finally, HFM Investment Advisors LLC acquired a new position in shares of Apple during the first quarter valued at about $99,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the business's stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares of the company's stock, valued at $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Deirdre O'brien sold 43,013 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The shares were 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 directly owned 136,687 shares in the company, 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. In the last ninety days, insiders sold 259,121 shares of company stock worth $65,358,981. 0.06% of the stock is currently owned by company insiders.

Apple Stock Performance

Shares of AAPL stock opened at $262.82 on Friday. The firm has a market cap of $3.90 trillion, a price-to-earnings ratio of 39.88, a P/E/G ratio of 2.52 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $265.29. The firm's 50-day simple moving average is $244.15 and its two-hundred day simple moving average is $219.18.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The business 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 company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. As a group, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Analysts Set New Price Targets

AAPL has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Apple from $245.00 to $290.00 and gave the company an "overweight" rating in a report on Tuesday. Weiss Ratings reissued a "hold (c+)" rating on shares of Apple in a research report on Friday. Evercore ISI restated an "outperform" rating on shares of Apple in a report on Monday. UBS Group restated a "neutral" rating on shares of Apple in a report on Monday, September 8th. Finally, Morgan Stanley set a $298.00 price target on shares of Apple and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $252.47.

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.

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