Fermata Advisors LLC Trims Holdings in Apple Inc. $AAPL

Key Points

• Fermata Advisors LLC reduced its stake in Apple Inc. by 24.6% during the second quarter, now holding 56,988 shares valued at approximately $11.69 million.
• Apple's recent quarterly earnings exceeded expectations, reporting $1.57 EPS and $94.04 billion in revenue, compared to forecasts of $1.43 EPS and $88.64 billion.
• Several analysts have raised their target prices for Apple, with estimates now ranging from $205.82 to $305.00, and an average rating of "Moderate Buy."

Fermata Advisors LLC reduced its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 24.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,988 shares of the iPhone maker's stock after selling 18,601 shares during the quarter. Apple comprises about 3.1% of Fermata Advisors LLC's investment portfolio, making the stock its 3rd biggest position. Fermata Advisors LLC's holdings in Apple were worth $11,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Apple by 1,800.0% during 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. Life Planning Partners Inc acquired a new stake in Apple during the fourth quarter worth about $47,000. Elite Financial Inc. purchased a new stake in Apple in the first quarter valued at approximately $58,000. Conquis Financial LLC acquired a new stake in shares of Apple during the fourth quarter worth about $63,000. Finally, LSV Asset Management acquired a new position in Apple during the 4th quarter worth approximately $65,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AAPL shares. Tigress Financial boosted their target price on Apple from $300.00 to $305.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, September 17th. Jefferies Financial Group boosted their price target on Apple from $190.67 to $205.82 and gave the company a "hold" rating in a report on Monday, September 8th. UBS Group restated a "neutral" rating on shares of Apple in a research report on Monday, September 8th. HSBC set a $220.00 price target on Apple and gave the company a "hold" rating in a research report on Monday, September 8th. Finally, Bank of America upped their price target on Apple from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average price target of $244.03.

Apple Stock Down 0.6%

Shares of NASDAQ:AAPL opened at $254.43 on Wednesday. The company's 50-day moving average price is $226.20 and its two-hundred day moving average price is $212.51. The firm has a market cap of $3.78 trillion, a P/E ratio of 38.61, a P/E/G ratio of 2.66 and a beta of 1.11. Apple Inc. has a 12 month low of $169.21 and a 12 month 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.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $94.04 billion for 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%.The firm's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.40 earnings per share. As a group, research analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal 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 paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Insider Activity

In other 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 sale, the senior vice president directly owned 136,687 shares of the company's stock, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

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.

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