Apple Inc. (NASDAQ:AAPL) Shares Sold by Beech Hill Advisors Inc.

Beech Hill Advisors Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,919 shares of the iPhone maker's stock after selling 1,428 shares during the quarter. Apple comprises about 3.4% of Beech Hill Advisors Inc.'s portfolio, making the stock its 4th biggest holding. Beech Hill Advisors Inc.'s holdings in Apple were worth $8,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Life Planning Partners Inc bought a new stake in Apple in the fourth quarter worth about $47,000. Conquis Financial LLC acquired a new stake in Apple during the 4th quarter worth about $63,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter worth about $65,000. Pillar Financial Advisors LLC acquired a new stake in Apple during the 4th quarter worth about $82,000. Finally, Compass Planning Associates Inc acquired a new stake in Apple during the 4th quarter worth about $96,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,486 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $208.19, for a total transaction of $933,940.34. Following the completion of the transaction, the insider directly owned 15,533 shares in the company, valued at $3,233,815.27. The trade was a 22.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on AAPL. Needham & Company LLC restated a "hold" rating on shares of Apple in a report on Friday, July 25th. The Goldman Sachs Group reiterated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. Barclays upped their target price on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a report on Friday, August 1st. Evercore ISI upped their target price on Apple to $250.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, DA Davidson reiterated a "buy" rating and issued a $250.00 target price on shares of Apple in a report on Friday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $237.60.

Apple Stock Up 4.2%

Shares of Apple stock opened at $229.35 on Friday. The stock has a market capitalization of $3.40 trillion, a P/E ratio of 34.80, a PEG ratio of 2.30 and a beta of 1.16. 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 stock has a 50 day moving average price of $206.84 and a two-hundred day moving average price of $213.21. 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion during the quarter, compared to analysts' expectations of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%. The company's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. Equities analysts expect that Apple Inc. will post 7.28 earnings per share for the current year.

Apple declared that its Board of Directors has approved a share repurchase program on Thursday, May 1st that allows the company to buyback $100.00 billion in shares. This buyback authorization allows the iPhone maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. Apple's payout ratio is 15.78%.

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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