Orser Capital Management LLC Reduces Position in Apple Inc. $AAPL

Key Points

• Orser Capital Management LLC reduced its stake in Apple Inc. by 4.1% during the 2nd quarter, owning 34,243 shares valued at $7,026,000, making it the firm's 4th biggest position.
• Several institutional investors have increased their holdings in Apple, with First National Bank of Hutchinson growing its stake by 24.6% in the fourth quarter.
• Apple's recent quarterly earnings report showed an EPS of $1.57, surpassing analyst expectations and indicating a year-over-year revenue increase of 9.6%.

Orser Capital Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,243 shares of the iPhone maker's stock after selling 1,464 shares during the quarter. Apple makes up about 5.2% of Orser Capital Management LLC's portfolio, making the stock its 4th biggest position. Orser Capital Management LLC's holdings in Apple were worth $7,026,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AAPL. First National Bank of Hutchinson grew its stake in Apple by 24.6% in the fourth quarter. First National Bank of Hutchinson now owns 35,319 shares of the iPhone maker's stock worth $8,845,000 after purchasing an additional 6,982 shares in the last quarter. Eagle Capital Management LLC grew its stake in Apple by 0.5% in the fourth quarter. Eagle Capital Management LLC now owns 54,085 shares of the iPhone maker's stock worth $13,544,000 after purchasing an additional 272 shares in the last quarter. Brighton Jones LLC grew its stake in Apple by 14.8% in the fourth quarter. Brighton Jones LLC now owns 537,314 shares of the iPhone maker's stock worth $134,554,000 after purchasing an additional 69,207 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Apple by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 66,857 shares of the iPhone maker's stock valued at $16,742,000 after acquiring an additional 2,695 shares in the last quarter. Finally, Highview Capital Management LLC DE boosted its position in Apple by 2.4% during the 4th quarter. Highview Capital Management LLC DE now owns 50,264 shares of the iPhone maker's stock valued at $12,587,000 after acquiring an additional 1,155 shares in the last quarter. Institutional investors own 67.73% of the company's stock.

Apple Stock Performance

NASDAQ AAPL opened at $256.08 on Tuesday. The stock has a 50-day simple moving average of $225.30 and a two-hundred day simple moving average of $212.22. The firm has a market capitalization of $3.80 trillion, a P/E ratio of 38.86, a PEG ratio of 2.55 and a beta of 1.11. Apple Inc. has a fifty-two week low of $169.21 and a fifty-two week high of $260.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company's revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. On average, equities analysts forecast that Apple Inc. will post 7.28 earnings per share for the current year.

Apple Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's payout ratio is currently 15.78%.

Insider Buying and Selling at Apple

In related news, SVP Deirdre O'brien sold 34,821 shares of Apple stock in a transaction dated 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 transaction, the senior vice president owned 136,687 shares in the company, valued at $30,508,538.40. The trade was a 20.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AAPL has been the topic of several recent research reports. Tigress Financial increased their target price on Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a research report on Wednesday, September 17th. BMO Capital Markets reaffirmed a "buy" rating on shares of Apple in a research report on Wednesday, August 13th. Monness Crespi & Hardt increased their target price on Apple from $245.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Loop Capital dropped their target price on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a research report on Thursday, August 21st. Finally, Phillip Securities cut Apple from a "hold" rating to a "moderate sell" rating and set a $200.00 target price on the stock. in a research report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $244.03.

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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