Beaumont Financial Advisors LLC Reduces Stock Holdings in Apple Inc. $AAPL

Key Points

• Beaumont Financial Advisors LLC decreased its stake in Apple Inc. by 1.6%, selling 4,600 shares, which leaves it owning approximately 277,438 shares valued at about $56.9 million.
• Apple's recent quarterly earnings report showed an EPS of $1.57, exceeding analysts' estimates, and a revenue of $94.04 billion, up 9.6% year-over-year.
• Insider selling has occurred, with significant transactions from both SVP Katherine L. Adams and CEO Timothy D. Cook reducing their respective stakes in the company.

Beaumont Financial Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,438 shares of the iPhone maker's stock after selling 4,600 shares during the quarter. Apple comprises approximately 4.1% of Beaumont Financial Advisors LLC's holdings, making the stock its 3rd largest holding. Beaumont Financial Advisors LLC's holdings in Apple were worth $56,922,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AAPL. Ryan Investment Management Inc. bought a new position in Apple during the second quarter worth $31,000. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the period. Elite Financial Inc. bought a new position in Apple during the first quarter worth $58,000. LSV Asset Management bought a new position in Apple during the fourth quarter worth $65,000. Finally, HFM Investment Advisors LLC acquired a new position in shares of Apple in the 1st quarter valued at $99,000. Institutional investors own 67.73% of the company's stock.

Apple Stock Down 3.5%

Shares of NASDAQ:AAPL opened at $245.27 on Friday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The company's 50-day moving average price is $237.61 and its two-hundred day moving average price is $215.92. 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 firm has a market cap 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 issued its quarterly earnings data 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 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 analyst estimates of $88.64 billion. During the same quarter in the prior year, the firm earned $1.40 EPS. The company's revenue was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the company's stock in a transaction dated 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 transaction, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. This represents a 20.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,922 shares of company stock worth $64,320,190. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on AAPL shares. Bank of America raised their price objective on shares of Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Barclays raised their price objective on shares of Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Raymond James Financial reaffirmed an "outperform" rating and set a $240.00 price objective (up from $230.00) on shares of Apple in a report on Friday, August 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Friday, July 25th. Finally, Seaport Res Ptn raised shares of Apple to a "strong-buy" rating in a report on Wednesday, October 1st. Four analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $248.29.

Apple 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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