Check Capital Management Inc. CA Sells 1,128 Shares of Apple Inc. $AAPL

Key Points

• Check Capital Management Inc. CA reduced its holdings in Apple Inc. by 4.1%, selling 1,128 shares, leaving them with approximately 26,654 shares valued at around $5,921,000.
• Apple's shares are currently trading at $232.14, with a market capitalization of $3.45 trillion and a price-to-earnings ratio of 35.23, following a quarterly earnings report that exceeded analysts' expectations.
• Recent analysis shows that institutional investors own 67.73% of Apple’s stock, with a consensus target price of $237.37 and an average rating of "Moderate Buy" from multiple investment analysts.

Check Capital Management Inc. CA lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,654 shares of the iPhone maker's stock after selling 1,128 shares during the period. Apple makes up 0.2% of Check Capital Management Inc. CA's holdings, making the stock its 15th largest position. Check Capital Management Inc. CA's holdings in Apple were worth $5,921,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AAPL. Norges Bank bought a new stake in Apple during the 4th quarter valued at $46,868,648,000. GAMMA Investing LLC raised its stake in Apple by 25,934.1% during the 1st quarter. GAMMA Investing LLC now owns 60,066,398 shares of the iPhone maker's stock valued at $133,425,490,000 after acquiring an additional 59,835,676 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Apple by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 1,395,785,512 shares of the iPhone maker's stock valued at $349,532,608,000 after purchasing an additional 49,168,843 shares during the period. Proficio Capital Partners LLC increased its position in shares of Apple by 23,555.4% during the 4th quarter. Proficio Capital Partners LLC now owns 21,055,240 shares of the iPhone maker's stock valued at $5,272,653,000 after purchasing an additional 20,966,232 shares during the period. Finally, Northern Trust Corp increased its position in shares of Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock valued at $42,918,365,000 after purchasing an additional 20,079,472 shares during the period. Institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other Apple 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 value of $7,772,047.20. Following the completion of the sale, the senior vice president owned 136,687 shares of the company's stock, valued at $30,508,538.40. The trade was a 20.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Apple Stock Down 0.2%

NASDAQ AAPL traded down $0.42 during trading on Monday, reaching $232.14. 39,382,353 shares of the company's stock were exchanged, compared to its average volume of 55,684,536. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The firm has a market capitalization of $3.45 trillion, a PE ratio of 35.23, a P/E/G ratio of 2.42 and a beta of 1.11. 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 company's fifty day simple moving average is $215.79 and its 200-day simple moving average is $212.71.

Apple (NASDAQ:AAPL - Get Free Report) last announced 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 return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the company posted $1.40 EPS. The business's quarterly revenue was up 9.6% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend 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 (DPR) is 15.78%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AAPL shares. Morgan Stanley lifted their price target on Apple from $235.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Bank of America reiterated a "buy" rating and set a $250.00 price target on shares of Apple in a research report on Monday, August 25th. Citigroup lifted their price target on Apple from $240.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group reiterated a "buy" rating and set a $266.00 price target on shares of Apple in a research report on Tuesday, August 26th. Finally, BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $237.37.

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.