Apple Inc. (NASDAQ:AAPL) Shares Sold by Saxony Capital Management LLC

Saxony Capital Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 11.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 12,902 shares of the iPhone maker's stock after selling 1,723 shares during the quarter. Apple comprises 2.5% of Saxony Capital Management LLC's investment portfolio, making the stock its 9th biggest holding. Saxony Capital Management LLC's holdings in Apple were worth $2,866,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AAPL. Life Planning Partners Inc purchased a new position in Apple in the 4th quarter valued at approximately $47,000. Conquis Financial LLC purchased a new position in Apple in the 4th quarter valued at approximately $63,000. LSV Asset Management purchased a new position in Apple during the fourth quarter worth $65,000. Pillar Financial Advisors LLC purchased a new position in Apple during the fourth quarter worth $82,000. Finally, Compass Planning Associates Inc purchased a new position in Apple during the fourth quarter worth $96,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,486 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $208.19, for a total value of $933,940.34. Following the completion of the sale, the insider owned 15,533 shares in the company, valued at approximately $3,233,815.27. This trade represents a 22.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Apple Stock Up 4.2%

Shares of NASDAQ AAPL traded up $9.32 during mid-day trading on Friday, reaching $229.35. The company had a trading volume of 113,661,399 shares, compared to its average volume of 56,719,256. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $3.40 trillion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.40 and a beta of 1.16. The stock's 50 day moving average is $206.84 and its 200-day moving average is $213.14.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings data 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 net margin of 24.30% and a return on equity of 170.91%. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple declared that its board has initiated a stock buyback program on Thursday, May 1st that allows the company to repurchase $100.00 billion in shares. This repurchase authorization allows the iPhone maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Apple Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AAPL shares. The Goldman Sachs Group restated a "buy" rating on shares of Apple in a report on Wednesday, May 21st. UBS Group lifted their target price on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a report on Friday, August 1st. TD Cowen reduced their price objective on Apple from $290.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Monness Crespi & Hardt boosted their price objective on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, China Renaissance began coverage on Apple in a research note on Tuesday, April 22nd. They set a "buy" rating and a $241.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $237.60.

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.