Integrated Capital Management LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 7.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,808 shares of the iPhone maker's stock after selling 1,243 shares during the period. Apple comprises approximately 1.9% of Integrated Capital Management LLC's portfolio, making the stock its 12th largest position. Integrated Capital Management LLC's holdings in Apple were worth $3,511,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Life Planning Partners Inc purchased a new position in Apple in the fourth quarter worth $47,000. Elite Financial Inc. purchased a new position in Apple in the first quarter worth $58,000. Conquis Financial LLC purchased a new position in Apple in the fourth quarter worth $63,000. LSV Asset Management purchased a new position in Apple in the fourth quarter worth $65,000. Finally, Pillar Financial Advisors LLC purchased a new position in Apple in the fourth quarter worth $82,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Apple
In related news, SVP Deirdre O'brien sold 34,821 shares of the 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 completion of the transaction, the senior vice president directly owned 136,687 shares of the company's stock, valued at $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Barclays upped their price target on shares of 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 target on shares of 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 target 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. Needham & Company LLC restated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Finally, Loop Capital cut their price target on shares of Apple from $230.00 to $226.00 and set a "hold" rating for the company in a research report on Thursday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $239.05.
Read Our Latest Stock Report on AAPL
Apple Trading Down 0.3%
Shares of Apple stock traded down $0.67 during trading on Thursday, reaching $237.81. 23,367,216 shares of the stock were exchanged, compared to its average volume of 56,619,613. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The stock's fifty day moving average is $217.73 and its 200 day moving average is $212.92. The firm has a market cap of $3.53 trillion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10.
Apple (NASDAQ:AAPL - Get Free Report) last posted its 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. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the prior year, the business posted $1.40 earnings per share. Apple's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities research analysts expect 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. Investors of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's dividend payout ratio is presently 15.78%.
Apple Profile
(
Free Report)
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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