Mogy Joel R Investment Counsel Inc. Reduces Stake in Apple Inc. $AAPL

Key Points

• Mogy Joel R Investment Counsel Inc. reduced its stake in Apple Inc. by 0.6%, now holding 614,888 shares valued at approximately $126.16 million as of the latest SEC filing.
• Apple's quarterly earnings exceeded expectations, reporting $1.57 EPS and revenue of $94.04 billion, leading to a 9.6% year-over-year increase.
• Apple's most recent quarterly dividend of $0.26 represents a 0.4% yield, with a dividend payout ratio of 15.78%.

Mogy Joel R Investment Counsel Inc. cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 614,888 shares of the iPhone maker's stock after selling 3,799 shares during the quarter. Apple makes up approximately 7.3% of Mogy Joel R Investment Counsel Inc.'s investment portfolio, making the stock its 3rd largest holding. Mogy Joel R Investment Counsel Inc.'s holdings in Apple were worth $126,157,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AAPL. Vanguard Group Inc. increased its position in shares of Apple by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,400,790,809 shares of the iPhone maker's stock worth $311,157,662,000 after purchasing an additional 5,005,297 shares during the period. Geode Capital Management LLC grew its position in Apple by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 340,164,913 shares of the iPhone maker's stock worth $84,999,145,000 after acquiring an additional 6,307,413 shares during the last quarter. Norges Bank bought a new position in Apple during the 4th quarter worth $46,868,648,000. Northern Trust Corp raised its position in Apple by 13.3% during the 4th quarter. Northern Trust Corp now owns 171,385,531 shares of the iPhone maker's stock worth $42,918,365,000 after purchasing an additional 20,079,472 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Apple by 14.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,706,358 shares of the iPhone maker's stock worth $26,220,566,000 after purchasing an additional 13,137,968 shares during the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Price Performance

AAPL stock opened at $255.46 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. The firm's 50-day moving average price is $228.87 and its two-hundred day moving average price is $213.22. The stock has a market capitalization of $3.79 trillion, a price-to-earnings ratio of 38.76, a PEG ratio of 2.67 and a beta of 1.11. Apple Inc. has a 12-month low of $169.21 and a 12-month 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. The company had revenue of $94.04 billion during 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 revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 earnings per share. As a group, equities analysts predict that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple's dividend payout ratio is 15.78%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research analyst reports. UBS Group reaffirmed a "neutral" rating on shares of Apple in a research report on Monday, September 8th. HSBC set a $220.00 target price on shares of Apple and gave the stock a "hold" rating in a research note on Monday, September 8th. Monness Crespi & Hardt lifted their target price on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. BMO Capital Markets reiterated a "buy" rating on shares of Apple in a research note on Wednesday, August 13th. Finally, Wedbush set a $310.00 price objective on Apple and gave the company an "outperform" rating in a research note on Monday, September 22nd. 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 issued a Sell rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average price target of $245.66.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

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.

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