Capital Management Associates NY Sells 7,054 Shares of Apple Inc. $AAPL

Key Points

• Capital Management Associates NY reduced its stake in Apple Inc. by 47.2%, now holding 7,900 shares, making it the firm's 10th largest position.
• Apple recently posted quarterly earnings with an EPS of $1.57, exceeding estimates by $0.14, and reported a revenue of $94.04 billion, up 9.6% year-over-year.
• The company declared a quarterly dividend of $0.26, resulting in an annualized dividend of $1.04 and a dividend yield of 0.4%.

Capital Management Associates NY decreased its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 47.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,900 shares of the iPhone maker's stock after selling 7,054 shares during the quarter. Apple accounts for approximately 3.4% of Capital Management Associates NY's portfolio, making the stock its 10th largest holding. Capital Management Associates NY's holdings in Apple were worth $1,755,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AAPL. Life Planning Partners Inc purchased a new stake in shares of Apple during the fourth quarter worth $47,000. Elite Financial Inc. purchased a new stake in shares of Apple in the first quarter valued at about $58,000. Conquis Financial LLC purchased a new position in Apple during the fourth quarter worth about $63,000. LSV Asset Management purchased a new position in Apple during the fourth quarter worth about $65,000. Finally, Pillar Financial Advisors LLC acquired a new stake in shares of Apple during the fourth quarter worth about $82,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AAPL. Needham & Company LLC reissued a "hold" rating on shares of Apple in a research report on Friday, July 25th. Citigroup raised their price objective on shares of Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Monness Crespi & Hardt raised their target price on shares of Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Morgan Stanley set a $240.00 target price on shares of Apple and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Rosenblatt Securities reiterated a "neutral" rating and issued a $217.00 price objective on shares of Apple in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Apple presently has a consensus rating of "Moderate Buy" and a consensus target price of $239.05.

Apple Trading Down 0.0%

AAPL traded down $0.09 during midday trading on Friday, hitting $239.69. The company's stock had a trading volume of 54,829,143 shares, compared to its average volume of 47,688,568. 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 cap of $3.56 trillion, a P/E ratio of 36.37, a PEG ratio of 2.50 and a beta of 1.11. The firm has a 50-day moving average price of $219.28 and a two-hundred day moving average price of $212.64. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The company 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 firm's revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 EPS. On average, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The company 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. The ex-dividend date was Monday, August 11th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple's payout ratio is presently 15.78%.

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction dated Friday, August 8th. The stock was 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company's stock.

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.