New Perspectives Inc Decreases Stock Holdings in Apple Inc. $AAPL

Key Points

• New Perspectives Inc reduced its holdings in Apple Inc. by 11.0% during the second quarter, now owning 11,100 shares valued at approximately $2,277,000.
• Apple's recent earnings report showed an EPS of $1.57, surpassing estimates, with a quarterly revenue of $94.04 billion, up 9.6% year-over-year.
• Wall Street analysts maintain a consensus target price of $248.29 for Apple shares, with the majority rating it as a "Moderate Buy."

New Perspectives Inc trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 11.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,100 shares of the iPhone maker's stock after selling 1,375 shares during the period. Apple makes up about 1.1% of New Perspectives Inc's portfolio, making the stock its 11th biggest position. New Perspectives Inc's holdings in Apple were worth $2,277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ryan Investment Management Inc. acquired a new stake in Apple during the 2nd quarter valued at approximately $31,000. ROSS JOHNSON & Associates LLC lifted its stake in 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 acquiring an additional 180 shares during the period. Elite Financial Inc. acquired a new stake in Apple during the 1st quarter valued at approximately $58,000. LSV Asset Management acquired a new stake in Apple during the 4th quarter valued at approximately $65,000. Finally, HFM Investment Advisors LLC acquired a new stake in Apple during the 1st quarter valued at approximately $99,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Trading Up 0.6%

Shares of AAPL opened at $249.34 on Thursday. Apple Inc. has a 52-week low of $169.21 and a 52-week 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. The firm's fifty day moving average is $240.12 and its two-hundred day moving average is $216.49. The stock has a market cap of $3.70 trillion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $88.64 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. Research analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Melius Research set a $290.00 price objective on shares of Apple and gave the company a "buy" rating in a research note on Wednesday, September 10th. Citigroup reaffirmed a "buy" rating on shares of Apple in a report on Wednesday, September 10th. Evercore ISI set a $290.00 target price on shares of Apple and gave the company an "outperform" rating in a report on Friday, September 26th. Monness Crespi & Hardt lifted their target price on shares of Apple from $245.00 to $270.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Seaport Res Ptn raised shares of Apple to a "strong-buy" rating in a report on Wednesday, October 1st. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $248.29.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the sale, the senior vice president owned 179,158 shares of the company's stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Deirdre O'brien sold 43,013 shares of Apple stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the sale, the senior vice president directly owned 136,687 shares in the company, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,922 shares of company stock valued at $64,320,190 in the last 90 days. 0.06% of the stock is owned by insiders.

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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