St. Clair Advisors LLC Has $18.24 Million Stock Position in Apple Inc. $AAPL

Key Points

• St. Clair Advisors LLC reduced its stake in Apple Inc. by 2.0%, selling 1,813 shares and holding a total of 88,920 shares which represents approximately 4.8% of its investment portfolio.
• Institutional investors like Norges Bank and GAMMA Investing LLC significantly increased their positions in Apple, highlighting continued strong interest in the stock, with 67.73% currently owned by hedge funds and other institutional investors.
• Apple's quarterly earnings beat expectations with $1.57 earnings per share, contributing to a revenue of $94.04 billion for the quarter, up 9.6% from the previous year.

St. Clair Advisors LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,920 shares of the iPhone maker's stock after selling 1,813 shares during the period. Apple accounts for 4.8% of St. Clair Advisors LLC's holdings, making the stock its 6th biggest position. St. Clair Advisors LLC's holdings in Apple were worth $18,244,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC increased its position in Apple by 1,800.0% during the 1st quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker's stock worth $42,000 after buying an additional 180 shares during the period. Life Planning Partners Inc bought a new position in Apple during the 4th quarter worth $47,000. Elite Financial Inc. bought a new position in Apple during the 1st quarter worth $58,000. Conquis Financial LLC bought a new position in Apple during the 4th quarter worth $63,000. Finally, LSV Asset Management bought a new position in Apple during the 4th quarter worth $65,000. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. DA Davidson reissued a "neutral" rating and set a $250.00 target price on shares of Apple in a report on Thursday, September 11th. Loop Capital reduced their target price on Apple from $230.00 to $226.00 and set a "hold" rating on the stock in a report on Thursday, August 21st. Bank of America increased their target price on Apple from $260.00 to $270.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Monness Crespi & Hardt increased their target price on Apple from $245.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Finally, Morgan Stanley set a $240.00 target price on Apple and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $242.74.

Apple Price Performance

NASDAQ:AAPL traded up $7.62 during trading hours on Friday, hitting $245.50. The company's stock had a trading volume of 163,435,991 shares, compared to its average volume of 47,568,860. The stock has a fifty day simple moving average of $224.35 and a 200-day simple moving average of $212.42. The company has a market capitalization of $3.64 trillion, a P/E ratio of 37.25, a PEG ratio of 2.47 and a beta of 1.11. 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 Inc. has a twelve month low of $169.21 and a twelve month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly 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. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm had revenue of $94.04 billion for the quarter, compared to analyst estimates of $88.64 billion. During the same period last year, the firm posted $1.40 earnings per share. The business's revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal 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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio (DPR) is 15.78%.

Insider Activity

In other news, SVP Deirdre O'brien sold 34,821 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $223.20, for a total transaction of $7,772,047.20. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $30,508,538.40. This trade represents a 20.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.