Silverleafe Capital Partners LLC Sells 2,551 Shares of Apple Inc. $AAPL

Key Points

• Silverleafe Capital Partners LLC has reduced its stake in Apple Inc. by 3.9%, now holding 63,485 shares worth approximately $13 million.
• Apple Inc. reported $1.57 EPS for its recent quarter, exceeding analyst expectations and recording revenue of $94.04 billion, a 9.6% increase year-over-year.
• The company announced a quarterly dividend of $0.26 per share, representing an annualized yield of 0.4% and a payout ratio of 15.78%.

Silverleafe Capital Partners LLC lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 63,485 shares of the iPhone maker's stock after selling 2,551 shares during the period. Apple accounts for approximately 4.5% of Silverleafe Capital Partners LLC's holdings, making the stock its 7th biggest holding. Silverleafe Capital Partners LLC's holdings in Apple were worth $13,025,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Ransom Advisory Ltd grew its position in shares of Apple by 2.0% during the 2nd quarter. Ransom Advisory Ltd now owns 95,060 shares of the iPhone maker's stock valued at $19,504,000 after buying an additional 1,896 shares during the last quarter. Rise Advisors LLC grew its position in shares of Apple by 9.3% during the 2nd quarter. Rise Advisors LLC now owns 17,530 shares of the iPhone maker's stock valued at $3,597,000 after buying an additional 1,492 shares during the last quarter. Beacon Wealthcare LLC grew its position in shares of Apple by 1.1% during the 2nd quarter. Beacon Wealthcare LLC now owns 5,108 shares of the iPhone maker's stock valued at $1,048,000 after buying an additional 57 shares during the last quarter. Persium Advisors LLC grew its position in shares of Apple by 13.6% during the 2nd quarter. Persium Advisors LLC now owns 6,567 shares of the iPhone maker's stock valued at $1,347,000 after buying an additional 784 shares during the last quarter. Finally, Martin Capital Partners LLC grew its position in shares of Apple by 47.9% during the 2nd quarter. Martin Capital Partners LLC now owns 2,580 shares of the iPhone maker's stock valued at $529,000 after buying an additional 836 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the business'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 value of $7,772,047.20. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is owned by insiders.

Apple Price Performance

Shares of NASDAQ:AAPL traded down $1.32 during trading on Tuesday, reaching $254.76. The company had a trading volume of 30,536,489 shares, compared to its average volume of 57,417,355. The firm's fifty day moving average is $225.30 and its 200 day moving average is $212.22. The firm has a market capitalization of $3.78 trillion, a PE ratio of 38.67, a price-to-earnings-growth ratio of 2.55 and a beta of 1.11. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last released its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the firm earned $1.40 EPS. The business's revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AAPL shares. Bank of America boosted their target price on shares of Apple from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Evercore ISI boosted their target price on shares of Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. JPMorgan Chase & Co. boosted their target price on shares of Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday. Wedbush set a $310.00 target price on shares of Apple and gave the company an "outperform" rating in a research note on Monday. Finally, Raymond James Financial reissued an "outperform" rating and set a $240.00 target price (up from $230.00) on shares of Apple in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $244.03.

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.