Sage Capital Advisors llc Has $30.32 Million Stake in Apple Inc. $AAPL

Key Points

• Sage Capital Advisors LLC reduced its Apple Inc. stock position by 3.0%, now holding 147,766 shares valued at approximately $30.32 million, making it their largest holding.
• Multiple large investors, including Norges Bank and Vanguard Group Inc., significantly increased their stakes in Apple, amid broad institutional ownership accounting for 67.73% of the company's stock.
• Apple recently reported quarterly earnings that surpassed expectations, with an EPS of $1.57 and revenue of $94.04 billion, indicating a year-over-year revenue growth of 9.6%.

Sage Capital Advisors llc reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,766 shares of the iPhone maker's stock after selling 4,595 shares during the period. Apple makes up about 7.5% of Sage Capital Advisors llc's holdings, making the stock its largest holding. Sage Capital Advisors llc's holdings in Apple were worth $30,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after acquiring an additional 180 shares during the period. Life Planning Partners Inc purchased a new stake in shares of Apple in the fourth quarter worth $47,000. Elite Financial Inc. purchased a new stake in shares of Apple in the first quarter worth $58,000. Conquis Financial LLC purchased a new stake in shares of Apple in the fourth quarter worth $63,000. Finally, LSV Asset Management purchased a new stake in shares of Apple in the fourth quarter worth $65,000. 67.73% of the stock is owned by institutional investors.

Apple Stock Up 3.2%

NASDAQ AAPL traded up $7.62 during mid-day trading on Friday, reaching $245.50. The stock had a trading volume of 163,435,991 shares, compared to its average volume of 47,568,860. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $260.10. The stock has a market cap of $3.64 trillion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11. The company has a fifty day moving average price of $224.35 and a 200 day moving average price of $212.42. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL - Get Free Report) last announced its earnings results 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 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 previous year, the business earned $1.40 EPS. On average, research analysts expect 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. Stockholders 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 dividend payout ratio is 15.78%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AAPL. Raymond James Financial reiterated an "outperform" rating and issued a $240.00 price objective (up previously from $230.00) on shares of Apple in a research report on Friday, August 1st. Sanford C. Bernstein assumed coverage on Apple in a research report on Monday. They set an "outperform" rating and a $290.00 price target on the stock. HSBC set a $220.00 price target on Apple and gave the company a "hold" rating in a research report on Monday, September 8th. Melius Research set a $290.00 price target on Apple and gave the company a "buy" rating in a research report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. raised their price target on Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $242.74.

Insider Activity at Apple

In other news, SVP Deirdre O'brien sold 34,821 shares of the company's stock in a transaction on 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 sale, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This represents a 20.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is owned by company insiders.

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.