Apple Inc. $AAPL Shares Sold by Wilmington Savings Fund Society FSB

Key Points

• Wilmington Savings Fund Society FSB trimmed its Apple stake by 8.2% in Q2, selling 85,943 shares and now holding 965,959 shares worth about $198.19 million, roughly 3.5% of its portfolio and its 5th largest position.
• Insider selling was notable: CEO Timothy D. Cook sold 129,963 shares (~$33.38M) and SVP Katherine L. Adams sold 47,125 shares (~$12.10M), with insiders offloading 224,300 shares (~$57.59M) in the past three months.
• Apple beat quarterly expectations (EPS $1.85 vs. $1.74; revenue $102.47B vs. $101.65B), prompted several analyst price-target raises and a consensus "Moderate Buy" with an average target of $278.22, and the company declared a $0.26 quarterly dividend (0.4% yield).

Wilmington Savings Fund Society FSB trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 965,959 shares of the iPhone maker's stock after selling 85,943 shares during the period. Apple comprises about 3.5% of Wilmington Savings Fund Society FSB's investment portfolio, making the stock its 5th biggest position. Wilmington Savings Fund Society FSB's holdings in Apple were worth $198,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Ryan Investment Management Inc. bought a new position in shares of Apple during the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC raised its position in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares in the last quarter. Elite Financial Inc. bought a new position in Apple during the first quarter worth about $58,000. LSV Asset Management bought a new position in Apple during the fourth quarter worth about $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in Apple during the first quarter valued at approximately $99,000. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 129,963 shares of the company's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 224,300 shares of company stock valued at $57,586,933. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on AAPL shares. Bank of America boosted their price target on Apple from $270.00 to $320.00 and gave the company a "buy" rating in a research note on Wednesday, October 29th. The Goldman Sachs Group lifted their price objective on Apple from $279.00 to $320.00 and gave the company a "buy" rating in a report on Friday, October 31st. TD Cowen upped their target price on shares of Apple from $275.00 to $325.00 and gave the stock a "buy" rating in a report on Friday, October 31st. Morgan Stanley increased their target price on shares of Apple from $298.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, October 31st. Finally, Barclays lifted their price target on shares of Apple from $180.00 to $230.00 and gave the company an "underweight" rating in a report on Friday, October 31st. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $278.22.

Apple Trading Up 2.2%

AAPL stock opened at $275.25 on Wednesday. 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 Inc. has a twelve month low of $169.21 and a twelve month high of $277.32. The company has a market cap of $4.07 trillion, a P/E ratio of 41.77, a PEG ratio of 2.62 and a beta of 1.08. The business has a fifty day moving average of $253.91 and a 200-day moving average of $225.75.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analysts' expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.64 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Monday, November 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, November 10th. Apple's payout ratio is 13.92%.

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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