HWG Holdings LP Sells 60,872 Shares of Apple Inc. $AAPL

Key Points

• HWG Holdings LP significantly reduced its holdings in Apple Inc. by 67.2%, selling 60,872 shares and now owning 29,739 shares, valued at approximately $6.1 million.
• Apple's stock recently traded at $256.87, with a market capitalization of $3.81 trillion and a 52-week price range between $169.21 and $260.10.
• In its latest quarterly earnings report, Apple exceeded analysts' expectations with $1.57 earnings per share and revenue of $94.04 billion, marking a 9.6% year-over-year increase.

HWG Holdings LP cut its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 67.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,739 shares of the iPhone maker's stock after selling 60,872 shares during the period. Apple accounts for 1.8% of HWG Holdings LP's holdings, making the stock its 18th biggest holding. HWG Holdings LP's holdings in Apple were worth $6,102,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AAPL. 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 shares of Apple during the fourth quarter worth about $47,000. Elite Financial Inc. acquired a new stake in Apple during the 1st quarter valued at approximately $58,000. Conquis Financial LLC purchased a new stake in Apple in the fourth quarter valued at $63,000. Finally, LSV Asset Management acquired a new position in shares of Apple in the 4th quarter valued at about $65,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of NASDAQ AAPL opened at $256.87 on Friday. The firm has a 50-day simple moving average of $227.98 and a 200-day simple moving average of $212.99. The stock has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 38.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.11. 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 Inc. has a 52 week low of $169.21 and a 52 week high of $260.10.

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 for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The firm had revenue of $94.04 billion for 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%. Apple's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.40 earnings per share. On average, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal 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 given a $0.26 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Apple from $255.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, September 19th. UBS Group reaffirmed a "neutral" rating on shares of Apple in a research note on Monday, September 8th. Morgan Stanley set a $240.00 target price on Apple and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Moffett Nathanson raised shares of Apple from a "sell" rating to a "neutral" rating and set a $225.00 price target for the company in a report on Thursday, September 4th. Finally, Wedbush set a $310.00 price objective on shares of Apple and gave the company an "outperform" rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $244.66.

Insider Activity at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of the stock in a transaction that occurred 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 approximately $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.

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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