Capital Advisory Group Advisory Services LLC Trims Stock Position in Apple Inc. $AAPL

Key Points

• Capital Advisory Group Advisory Services LLC has reduced its stake in Apple Inc. by 22.7%, now holding 7,979 shares valued at approximately $1.64 million.
• Several institutions, including ROSS JOHNSON & Associates LLC and Conquis Financial LLC, have recently adjusted their holdings in Apple, with hedge funds owning 67.73% of the stock.
• Apple reported a net margin of 24.3% and a revenue of $94.04 billion in its last quarterly earnings, exceeding estimates and showing a 9.6% year-over-year growth.

Capital Advisory Group Advisory Services LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 22.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,979 shares of the iPhone maker's stock after selling 2,344 shares during the quarter. Capital Advisory Group Advisory Services LLC's holdings in Apple were worth $1,637,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AAPL. ROSS JOHNSON & Associates LLC increased its holdings in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after buying an additional 180 shares during the period. Conquis Financial LLC purchased a new position in Apple during the fourth quarter valued at approximately $63,000. LSV Asset Management purchased a new position in Apple during the fourth quarter valued at approximately $65,000. Elite Financial Inc. purchased a new position in Apple during the first quarter valued at approximately $58,000. Finally, HFM Investment Advisors LLC purchased a new position in Apple during the first quarter valued at approximately $99,000. 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 Apple 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 completion of the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company's stock.

Apple Price Performance

NASDAQ AAPL opened at $255.46 on Friday. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm's fifty day simple moving average is $228.87 and its two-hundred day simple moving average is $213.22. 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 firm has a market capitalization of $3.79 trillion, a P/E ratio of 38.76, a P/E/G ratio of 2.67 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AAPL. HSBC set a $220.00 price objective on shares of Apple and gave the company a "hold" rating in a report on Monday, September 8th. Loop Capital cut their price objective on shares of Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a report on Thursday, August 21st. Jefferies Financial Group lifted their price objective on shares of Apple from $190.67 to $205.82 and gave the company a "hold" rating in a report on Monday, September 8th. Monness Crespi & Hardt lifted their price objective on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Sanford C. Bernstein initiated coverage on shares of Apple in a report on Monday, September 15th. They issued an "outperform" rating and a $290.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus price target of $245.66.

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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