Apple Inc. $AAPL is Dover Advisors LLC's 3rd Largest Position

Key Points

• Dover Advisors LLC reduced its position in Apple Inc. by 14.1%, owning 67,446 shares worth approximately $13.84 million, making Apple the firm's third biggest investment.
• Institutional investors collectively own 67.73% of Apple's stock, with several, including Arlington Trust Co and Davis Investment Partners, increasing their holdings during the second quarter.
• Analyst ratings for Apple are predominantly positive, with a consensus price target of $242.74 and various analysts issuing buy ratings following recent performance improvements in earnings and revenue.

Dover Advisors LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 14.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 67,446 shares of the iPhone maker's stock after selling 11,094 shares during the period. Apple comprises about 6.1% of Dover Advisors LLC's portfolio, making the stock its 3rd largest holding. Dover Advisors LLC's holdings in Apple were worth $13,838,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. First National Bank of Hutchinson raised its stake in Apple by 24.6% during 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 purchasing an additional 6,982 shares during the period. Eagle Capital Management LLC increased its position in Apple by 0.5% during the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after buying an additional 272 shares during the last quarter. Brighton Jones LLC increased its position 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 buying an additional 69,207 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Apple by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after acquiring an additional 2,695 shares during the period. Finally, Highview Capital Management LLC DE boosted its holdings in Apple by 2.4% during 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 acquiring an additional 1,155 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Insider Transactions at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction dated Friday, August 8th. The shares were 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. The trade was a 20.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Apple Trading Down 0.5%

Shares of AAPL traded down $1.32 during trading hours on Tuesday, hitting $254.76. 30,536,489 shares of the stock were exchanged, compared to its average volume of 57,417,355. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50-day moving average of $225.30 and a 200-day moving average of $212.22. The firm has a market capitalization of $3.78 trillion, a P/E ratio of 38.67, a price-to-earnings-growth ratio of 2.55 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 earnings per share. On average, research analysts expect 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 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 dividend payout ratio is currently 15.78%.

Analysts Set New Price Targets

Several research firms recently weighed in on AAPL. Citigroup reiterated a "buy" rating on shares of Apple in a research note on Wednesday, September 10th. UBS Group reissued a "neutral" rating on shares of Apple in a report on Monday, September 8th. HSBC set a $220.00 price target on shares of Apple and gave the stock a "hold" rating in a research report on Monday, September 8th. Monness Crespi & Hardt boosted their price objective on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Evercore ISI lifted their price target on shares of Apple from $250.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $244.03.

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.