Carderock Capital Management Inc. Sells 5,851 Shares of Apple Inc. $AAPL

Carderock Capital Management Inc. reduced its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,899 shares of the iPhone maker's stock after selling 5,851 shares during the period. Apple accounts for about 3.1% of Carderock Capital Management Inc.'s investment portfolio, making the stock its 2nd largest position. Carderock Capital Management Inc.'s holdings in Apple were worth $11,750,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Apple by 1,800.0% during the 1st 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. Life Planning Partners Inc purchased a new position in shares of Apple during the 4th quarter worth about $47,000. Elite Financial Inc. purchased a new position in shares of Apple during the 1st quarter worth about $58,000. Conquis Financial LLC purchased a new position in shares of Apple during the 4th quarter worth about $63,000. Finally, LSV Asset Management purchased a new position in shares of Apple during the 4th quarter worth about $65,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AAPL. Phillip Securities cut shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 price target on the stock. in a research report on Thursday. Loop Capital dropped their price target on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research note on Thursday, August 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Apple in a report on Friday, July 25th. Monness Crespi & Hardt boosted their price target 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, UBS Group reissued a "neutral" rating on shares of Apple in a report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $240.80.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total value of $7,772,047.20. Following the transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Apple Price Performance

NASDAQ AAPL opened at $234.07 on Monday. The company has a market cap of $3.47 trillion, a PE ratio of 35.52, a PEG ratio of 2.43 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. 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 stock's 50-day moving average price is $221.50 and its two-hundred day moving average price is $212.02.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 EPS. On average, analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. 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 dividend payout ratio is currently 15.78%.

About Apple

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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