Transcendent Capital Group LLC Has $9.27 Million Stock Holdings in Apple Inc. $AAPL

Key Points

• Transcendent Capital Group LLC reduced its stake in Apple Inc. by 8.8%, selling 4,016 shares and holding a total of 41,752 shares, valued at approximately $9.27 million.
• Apple reported strong quarterly earnings of $1.57 per share and revenue of $94.04 billion, exceeding analyst expectations.
• The company announced a quarterly dividend of $0.26, representing an annual yield of 0.4%, with a payout ratio of 15.78%.

Transcendent Capital Group LLC lessened its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 8.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,752 shares of the iPhone maker's stock after selling 4,016 shares during the quarter. Apple makes up about 5.2% of Transcendent Capital Group LLC's investment portfolio, making the stock its 2nd largest position. Transcendent Capital Group LLC's holdings in Apple were worth $9,274,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AAPL. Life Planning Partners Inc bought a new position in shares of Apple during the 4th quarter worth approximately $47,000. Elite Financial Inc. bought a new position in shares of Apple during the 1st quarter worth approximately $58,000. Conquis Financial LLC bought a new position in shares of Apple during the 4th quarter worth approximately $63,000. LSV Asset Management bought a new position in shares of Apple during the 4th quarter worth approximately $65,000. Finally, Pillar Financial Advisors LLC bought a new position in shares of Apple during the 4th quarter worth approximately $82,000. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on AAPL. Citigroup raised their target price on Apple from $240.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Barclays lifted their price objective on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. DA Davidson reiterated a "buy" rating and issued a $250.00 price objective on shares of Apple in a research report on Friday, August 1st. The Goldman Sachs Group reiterated a "buy" rating and issued a $266.00 price objective on shares of Apple in a research report on Tuesday, August 26th. Finally, UBS Group lifted their price objective on Apple from $210.00 to $220.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Apple has an average rating of "Moderate Buy" and a consensus price target of $237.37.

Apple Trading Down 0.2%

Shares of AAPL stock traded down $0.42 on Monday, reaching $232.14. 39,382,353 shares of the stock were exchanged, compared to its average volume of 55,684,536. The stock has a market cap of $3.45 trillion, a PE ratio of 35.23, a P/E/G ratio of 2.42 and a beta of 1.11. Apple Inc. has a one year low of $169.21 and a one year high of $260.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a 50 day moving average price of $215.79 and a 200 day moving average price of $212.71.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $88.64 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The firm's revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.40 earnings per share. Equities research analysts forecast 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. Investors of record on Monday, August 11th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple's dividend payout ratio is currently 15.78%.

Insider Buying and Selling

In related news, SVP Deirdre O'brien sold 34,821 shares of the company's 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 sale, the senior vice president owned 136,687 shares in the company, valued at approximately $30,508,538.40. This represents a 20.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.

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.