Farrell Financial LLC Reduces Stock Holdings in Apple Inc. $AAPL

Key Points

• Farrell Financial LLC reduced its stake in Apple Inc. by 4.8% in Q2, owning 30,380 shares valued at approximately $6.23 million.
• Insider transactions include SVP Deirdre O'brien selling 43,013 shares for over $11 million and CEO Timothy Cook selling 129,963 shares valued at approximately $33.38 million.
• Recent analyst ratings have resulted in various price targets for Apple, with estimates ranging from $200 to $270, and an average consensus target of $247.49.

Farrell Financial LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,380 shares of the iPhone maker's stock after selling 1,538 shares during the quarter. Apple comprises approximately 4.2% of Farrell Financial LLC's holdings, making the stock its 7th largest holding. Farrell Financial LLC's holdings in Apple were worth $6,233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ryan Investment Management Inc. bought a new stake in Apple in the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC increased its holdings in 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 buying an additional 180 shares during the period. Life Planning Partners Inc bought a new stake in Apple in the 4th quarter valued at $47,000. Elite Financial Inc. bought a new stake in Apple in the 1st quarter valued at $58,000. Finally, Conquis Financial LLC bought a new stake in Apple in the 4th quarter valued at $63,000. Institutional investors own 67.73% of the company's stock.

Insider Activity

In other news, SVP Deirdre O'brien sold 43,013 shares of the company's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at $35,181,866.93. This represents a 23.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of the company's stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer directly owned 3,280,295 shares of the company's stock, valued at approximately $842,412,558.95. This trade represents a 3.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,922 shares of company stock valued at $64,320,190 in the last ninety days. 0.06% of the stock is owned by insiders.

Apple Stock Performance

Apple stock opened at $258.02 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The company has a market cap of $3.83 trillion, a PE ratio of 39.15, a PEG ratio of 2.50 and a beta of 1.09. The company's 50-day moving average is $233.09 and its two-hundred day moving average is $214.69.

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

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were paid 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 15.78%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AAPL shares. Rosenblatt Securities boosted their price target on shares of Apple from $223.00 to $241.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. The Goldman Sachs Group reissued a "buy" rating and issued a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. Needham & Company LLC restated a "hold" rating on shares of Apple in a research note on Friday, July 25th. Bank of America boosted their target price on shares of Apple from $260.00 to $270.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Finally, 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. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $247.49.

About Apple

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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