Community Financial Services Group LLC Sells 1,394 Shares of Apple Inc. $AAPL

Key Points

• Community Financial Services Group LLC decreased its stake in Apple Inc. by 1.2%, now holding 115,053 shares valued at approximately $23.6 million.
• Apple's recent insider transactions include Katherine L. Adams selling 47,125 shares for over $12 million and CFO Kavan Parekh selling 4,199 shares for around $1 million.
• Apple reported a quarterly earnings of $1.57 per share, surpassing estimates, with a total revenue of $94.04 billion, marking a 9.6% increase year-over-year.

Community Financial Services Group LLC cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,053 shares of the iPhone maker's stock after selling 1,394 shares during the quarter. Apple makes up approximately 4.7% of Community Financial Services Group LLC's portfolio, making the stock its 3rd largest holding. Community Financial Services Group LLC's holdings in Apple were worth $23,605,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Ryan Investment Management Inc. acquired a new position in shares of Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% in the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. acquired a new position in shares of Apple in the 1st quarter valued at $58,000. LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at $65,000. Finally, HFM Investment Advisors LLC acquired a new position in shares of Apple in the 1st quarter valued at $99,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Activity

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the business's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president directly owned 179,158 shares in the company, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevan Parekh sold 4,199 shares of the business's stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the sale, the chief financial officer owned 8,765 shares in the company, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 259,121 shares of company stock valued at $65,358,981. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the topic of a number of research analyst reports. Moffett Nathanson upgraded shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target on the stock in a report on Thursday, September 4th. UBS Group reiterated a "neutral" rating on shares of Apple in a report on Monday, September 8th. Phillip Securities downgraded shares of Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price on the stock. in a research note on Thursday, September 11th. Barclays raised their target price on shares of Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research note on Friday, August 1st. Finally, BMO Capital Markets reissued a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Four investment 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $252.47.

Apple Price Performance

Shares of AAPL stock opened at $262.77 on Wednesday. The firm has a market cap of $3.90 trillion, a P/E ratio of 39.87, a P/E/G ratio of 2.55 and a beta of 1.09. 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 1-year low of $169.21 and a 1-year high of $265.29. The firm has a fifty day moving average of $242.49 and a two-hundred day moving average of $217.74.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $1.40 EPS. As a group, research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared 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 of this dividend was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple's payout ratio is 15.78%.

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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