Apple Inc. $AAPL Stock Position Decreased by Rebalance LLC

Key Points

• Rebalance LLC has reduced its holdings in Apple Inc. by 14.9%, selling 1,858 shares and resulting in ownership of 10,578 shares valued at approximately $2.17 million.
• Analyst ratings for Apple show a consensus of "Moderate Buy" with a target price of $248.29, illustrating varying confidence among analysts regarding the stock's performance.
• CEO Timothy D. Cook and SVP Katherine L. Adams recently sold shares of Apple, with Cook disposing of 129,963 shares valued at approx. $33.4 million and Adams selling 47,125 shares worth around $12.1 million.

Rebalance LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,578 shares of the iPhone maker's stock after selling 1,858 shares during the period. Rebalance LLC's holdings in Apple were worth $2,170,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AAPL. Ryan Investment Management Inc. bought a new position in Apple in the 2nd quarter worth about $31,000. ROSS JOHNSON & Associates LLC grew its position in Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. bought a new position in Apple in the 1st quarter worth about $58,000. LSV Asset Management bought a new position in Apple in the 4th quarter worth about $65,000. Finally, HFM Investment Advisors LLC bought a new position in Apple in the 1st quarter worth about $99,000. Institutional investors own 67.73% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on AAPL shares. Tigress Financial upped their target price on shares of Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, September 17th. DA Davidson restated a "neutral" rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 11th. Raymond James Financial restated an "outperform" rating and issued a $240.00 target price (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Loop Capital decreased their target price on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. Finally, UBS Group reaffirmed a "neutral" rating on shares of Apple in a research note on Monday, September 8th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $248.29.

Apple Stock Down 3.5%

AAPL stock opened at $245.27 on Friday. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10. The company's 50 day simple moving average is $237.61 and its 200-day simple moving average is $215.92. 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 firm has a market capitalization of $3.64 trillion, a P/E ratio of 37.22, a P/E/G ratio of 2.47 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last released 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 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 analyst estimates of $88.64 billion. During the same quarter in the previous year, the business earned $1.40 earnings per share. The firm's revenue was up 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued 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 payout ratio is currently 15.78%.

Insider Activity

In other news, CEO Timothy D. Cook sold 129,963 shares of the business's 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. The trade was a 3.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the business's stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock worth $64,320,190 over the last 90 days. 0.06% of the stock is owned by company insiders.

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.

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.