Apple Inc. $AAPL Position Decreased by Mirabaud & Cie SA

Key Points

• Mirabaud & Cie SA has reduced its stake in Apple Inc. by 5.9%, now owning 113,294 shares, representing approximately 7.4% of its total holdings.
• Apple's earnings per share for the last quarter was $1.57, exceeding analyst expectations of $1.43, with a revenue of $94.04 billion, up 9.6% year-over-year.
• The stock price of Apple has hit a 52-week high of $260.10, and analysts maintain a consensus rating of "Moderate Buy" with a target price of $242.74.

Mirabaud & Cie SA reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 113,294 shares of the iPhone maker's stock after selling 7,089 shares during the period. Apple comprises 7.4% of Mirabaud & Cie SA's portfolio, making the stock its 3rd biggest position. Mirabaud & Cie SA's holdings in Apple were worth $23,245,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AAPL. Burkett Financial Services LLC raised its position in Apple by 0.6% during 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 holdings 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 acquiring an additional 930 shares during the period. Bell & Brown Wealth Advisors LLC increased its holdings 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 acquiring an additional 240 shares during the period. OneAscent Wealth Management LLC grew its stake in Apple by 4.6% during the 4th quarter. OneAscent Wealth Management LLC now owns 9,332 shares of the iPhone maker's stock worth $2,337,000 after buying an additional 409 shares during the last quarter. Finally, Andina Capital Management LLC grew its stake in Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker's stock worth $1,507,000 after buying an additional 4,591 shares during the last quarter. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling at Apple

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 sale, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Apple Stock Up 4.2%

Apple stock traded up $10.28 during midday trading on Monday, reaching $255.78. The company's stock had a trading volume of 78,479,784 shares, compared to its average volume of 57,414,145. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.80 trillion, a P/E ratio of 38.79, a P/E/G ratio of 2.55 and a beta of 1.11. The business has a 50-day simple moving average of $224.35 and a 200-day simple moving average of $212.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted 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 return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion for the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. On average, research analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Phillip Securities downgraded Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price target on the stock. in a research note on Thursday, September 11th. HSBC set a $220.00 price target on Apple and gave the stock a "hold" rating in a report on Monday, September 8th. Morgan Stanley set a $240.00 target price on Apple and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Melius Research set a $290.00 price target on Apple and gave the company a "buy" rating in a report on Wednesday, September 10th. Finally, Barclays increased their price objective on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $244.03.

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.