Catalina Capital Group LLC Sells 4,620 Shares of Apple Inc. $AAPL

Key Points

• Catalina Capital Group LLC reduced its stake in Apple Inc. by 13.3%, selling 4,620 shares, which now accounts for 4.1% of its investment portfolio.
• Insider activity includes significant sales by SVP Katherine L. Adams and CFO Kevan Parekh, together selling over 51,000 shares recently, indicating a decrease in their ownership stakes.
• As of the latest report, analysts have a consensus rating of "Moderate Buy" for Apple stock, with a target price averaging $252.47.

Catalina Capital Group LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 13.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,075 shares of the iPhone maker's stock after selling 4,620 shares during the period. Apple accounts for about 4.1% of Catalina Capital Group LLC's investment portfolio, making the stock its 4th biggest holding. Catalina Capital Group LLC's holdings in Apple were worth $6,171,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. First National Bank of Hutchinson grew its position in shares of Apple by 24.6% in the 4th quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock valued at $8,845,000 after acquiring an additional 6,982 shares during the period. Eagle Capital Management LLC raised its holdings in shares of Apple by 0.5% in the 4th quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock valued at $13,544,000 after purchasing an additional 272 shares during the period. Brighton Jones LLC grew its holdings in Apple by 14.8% during the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after purchasing an additional 69,207 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock worth $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE increased its holdings in shares of Apple by 2.4% in the fourth quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after purchasing an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 47,125 shares of the firm's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company's stock, valued at $46,005,982.82. This trade represents a 20.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the sale, the chief financial officer directly owned 8,765 shares in the company, valued at $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 259,121 shares of company stock worth $65,358,981. Corporate insiders own 0.06% of the company's stock.

Apple Stock Down 1.6%

Shares of AAPL opened at $258.45 on Thursday. The firm has a 50 day simple moving average of $242.99 and a two-hundred day simple moving average of $218.02. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $169.21 and a one year high of $265.29. The company has a market cap of $3.84 trillion, a P/E ratio of 39.22, a P/E/G ratio of 2.56 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 EPS. Research 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. Investors of record on Monday, August 11th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio is presently 15.78%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AAPL shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Apple in a report on Wednesday, October 8th. Barclays lifted their target price on Apple from $173.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Evercore ISI restated an "outperform" rating on shares of Apple in a research note on Monday. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Finally, Morgan Stanley set a $298.00 price objective on shares of Apple and gave the company an "overweight" rating in a report on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.47.

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.

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