Apple Inc. $AAPL Stock Position Trimmed by InvesTrust

Key Points

• InvesTrust has reduced its stake in Apple Inc. by 32.1%, now holding 29,056 shares valued at approximately $5.96 million, making it the 10th largest holding in its portfolio.
• Insider activity included SVP Deirdre O'Brien selling 34,821 shares at an average price of $223.20, reducing her ownership by 20.30%.
• Analysts have varied ratings on AAPL shares, with a consensus price target of $241.77 and a majority rating it as a "Hold" or "Buy."

InvesTrust reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 32.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,056 shares of the iPhone maker's stock after selling 13,740 shares during the quarter. Apple comprises approximately 2.3% of InvesTrust's portfolio, making the stock its 10th biggest holding. InvesTrust's holdings in Apple were worth $5,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Advanced Portfolio Management LLC raised its stake in shares of Apple by 0.3% during the fourth quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker's stock worth $3,260,000 after acquiring an additional 47 shares in the last quarter. Salus Financial Advisors LLC raised its stake in shares of Apple by 3.9% during the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker's stock worth $291,000 after acquiring an additional 49 shares in the last quarter. Sharpepoint LLC raised its stake in shares of Apple by 3.5% during the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker's stock worth $322,000 after acquiring an additional 51 shares in the last quarter. Redwood Financial Network Corp raised its stake in shares of Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker's stock worth $2,184,000 after acquiring an additional 53 shares in the last quarter. Finally, Mission Hills Financial Advisory LLC increased its stake in shares of Apple by 1.3% in the first quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker's stock worth $892,000 after buying an additional 53 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on AAPL shares. UBS Group reaffirmed a "neutral" rating on shares of Apple in a research note on Monday, September 8th. Jefferies Financial Group lifted their target price on shares of Apple from $190.67 to $205.82 and gave the stock a "hold" rating in a research note on Monday, September 8th. Barclays lifted their target price on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Moffett Nathanson raised shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 target price on the stock in a research note on Thursday, September 4th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a research note on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $241.77.

Apple Stock Up 0.6%

Shares of Apple stock opened at $238.15 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company's fifty day simple moving average is $222.59 and its two-hundred day simple moving average is $212.17. The company has a market cap of $3.53 trillion, a P/E ratio of 36.14, a PEG ratio of 2.46 and a beta of 1.11. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 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 firm 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 business posted $1.40 EPS. The company's quarterly revenue was up 9.6% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Monday, August 11th were issued 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 was Monday, August 11th. Apple's payout ratio is 15.78%.

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.

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.