Apple Inc. $AAPL Shares Sold by Outfitter Financial LLC

Key Points

• Outfitter Financial LLC reduced its holdings in Apple Inc. by 12.7% in Q1, now owning 18,460 shares worth approximately $4.10 million, making Apple its third largest holding.
• Multiple institutional investors have recently acquired stakes in Apple, with 67.73% of the stock now owned by institutional investors and hedge funds.
• Analysts have a mixed outlook on Apple, with an average rating of “Moderate Buy” and a consensus target price of $237.37 for the stock.

Outfitter Financial LLC reduced its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 12.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,460 shares of the iPhone maker's stock after selling 2,695 shares during the period. Apple comprises 3.7% of Outfitter Financial LLC's holdings, making the stock its 3rd biggest position. Outfitter Financial LLC's holdings in Apple were worth $4,101,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Yeomans Consulting Group Inc. boosted its holdings in shares of Apple by 2.2% in the 1st quarter. Yeomans Consulting Group Inc. now owns 9,229 shares of the iPhone maker's stock valued at $2,050,000 after acquiring an additional 199 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Apple by 65.1% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 973,700 shares of the iPhone maker's stock worth $216,288,000 after buying an additional 384,000 shares in the last quarter. Ring Mountain Capital LLC boosted its holdings in Apple by 0.8% during the first quarter. Ring Mountain Capital LLC now owns 75,008 shares of the iPhone maker's stock worth $16,661,000 after buying an additional 572 shares in the last quarter. JDH Wealth Management LLC boosted its holdings in Apple by 3.9% during the first quarter. JDH Wealth Management LLC now owns 10,885 shares of the iPhone maker's stock worth $2,418,000 after buying an additional 407 shares in the last quarter. Finally, Creekmur Asset Management LLC boosted its holdings in Apple by 25.0% during the first quarter. Creekmur Asset Management LLC now owns 31,789 shares of the iPhone maker's stock worth $7,061,000 after buying an additional 6,362 shares in the last quarter. 67.73% of the stock is 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 firm's stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 136,687 shares in the company, 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 is accessible through this link. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AAPL shares. Bank of America reissued a "buy" rating and set a $250.00 price target on shares of Apple in a report on Monday, August 25th. Morgan Stanley increased their price target on shares of Apple from $235.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Rosenblatt Securities reaffirmed a "neutral" rating and set a $217.00 price objective on shares of Apple in a report on Tuesday, July 29th. DA Davidson reaffirmed a "buy" rating and set a $250.00 price objective on shares of Apple in a report on Friday, August 1st. Finally, Wedbush reaffirmed an "outperform" rating and set a $270.00 price objective on shares of Apple in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Apple presently has a consensus rating of "Moderate Buy" and an average target price of $237.37.

Apple Price Performance

Shares of NASDAQ AAPL traded down $0.42 during mid-day trading on Monday, reaching $232.14. The company's stock had a trading volume of 39,382,353 shares, compared to its average volume of 55,684,536. The stock has a 50-day moving average of $215.79 and a two-hundred day moving average of $212.71. The stock has a market capitalization of $3.45 trillion, a P/E ratio of 35.23, a P/E/G ratio of 2.42 and a beta of 1.11. 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 Inc. has a 1-year low of $169.21 and a 1-year high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS 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 analysts' expectations of $88.64 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.40 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is presently 15.78%.

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.