Cohen Capital Management Inc. Sells 2,100 Shares of Apple Inc. $AAPL

Key Points

• Cohen Capital Management Inc. has decreased its stake in Apple Inc. by 16.1%, now holding 10,905 shares worth approximately $2.42 million.
• Apple's recent quarterly earnings exceeded expectations with $1.57 EPS, surpassing analysts' estimates of $1.43, along with a revenue increase of 9.6% year-over-year to $94.04 billion.
• The company has declared a quarterly dividend of $0.26 per share, representing a yield of 0.4% and a dividend payout ratio of 15.78%.

Cohen Capital Management Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 16.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,905 shares of the iPhone maker's stock after selling 2,100 shares during the period. Cohen Capital Management Inc.'s holdings in Apple were worth $2,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Life Planning Partners Inc bought a new stake in Apple during the 4th quarter worth approximately $47,000. Elite Financial Inc. bought a new stake in Apple during the 1st quarter worth approximately $58,000. Conquis Financial LLC bought a new position in Apple in the 4th quarter valued at $63,000. LSV Asset Management bought a new position in Apple in the 4th quarter valued at $65,000. Finally, Pillar Financial Advisors LLC bought a new position in Apple in the 4th quarter valued at $82,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of Apple 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 transaction, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company's stock.

Apple Trading Down 0.2%

Apple stock traded down $0.42 during mid-day trading on Monday, hitting $232.14. 39,382,353 shares of the company's stock were exchanged, compared to its average volume of 55,684,536. The firm has a market capitalization of $3.45 trillion, a P/E ratio of 35.23, a PEG ratio of 2.42 and a beta of 1.11. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company's 50 day simple moving average is $215.79 and its 200-day simple moving average is $212.71.

Apple (NASDAQ:AAPL - Get Free Report) last issued 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. The business 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 revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS. On average, equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. 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. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Monness Crespi & Hardt increased their price objective on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. DA Davidson reiterated a "buy" rating and issued a $250.00 price objective on shares of Apple in a research report on Friday, August 1st. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $266.00 price objective on shares of Apple in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus target price 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.