Apple Inc. $AAPL Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC trimmed its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 13.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,906 shares of the iPhone maker's stock after selling 6,727 shares during the quarter. Apple accounts for 8.5% of Eagle Bay Advisors LLC's portfolio, making the stock its 2nd biggest holding. Eagle Bay Advisors LLC's holdings in Apple were worth $9,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of AAPL. Life Planning Partners Inc purchased a new position in shares of Apple in the fourth quarter worth $47,000. Elite Financial Inc. purchased a new position in shares of Apple in the first quarter worth $58,000. Conquis Financial LLC purchased a new position in shares of Apple in the fourth quarter worth $63,000. LSV Asset Management purchased a new position in shares of Apple in the fourth quarter worth $65,000. Finally, Pillar Financial Advisors LLC purchased a new position in shares of Apple in the fourth quarter worth $82,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction on 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. This trade represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is owned by insiders.

Apple Trading Down 0.3%

Shares of NASDAQ AAPL traded down $0.67 during midday trading on Thursday, hitting $237.81. The company's stock had a trading volume of 23,367,216 shares, compared to its average volume of 56,619,613. 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 business's 50 day moving average is $217.73 and its two-hundred day moving average is $212.92. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The firm has a market cap of $3.53 trillion, a P/E ratio of 36.11, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11.

Apple (NASDAQ:AAPL - Get Free Report) last released 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 company 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%.Apple's quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business posted $1.40 EPS. As a group, equities research analysts expect that Apple Inc. will post 7.28 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed 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 (DPR) is presently 15.78%.

Analyst Ratings Changes

A number of analysts recently commented on AAPL shares. Barclays upped their price objective on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Bank of America upped their price objective on Apple from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday. Monness Crespi & Hardt upped 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. Moffett Nathanson upgraded Apple from a "sell" rating to a "neutral" rating and set a $225.00 price objective for the company in a research report on Thursday. Finally, Evercore ISI reiterated an "outperform" rating and set a $250.00 price objective on shares of Apple in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $239.05.

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.