Apple Inc. $AAPL Shares Sold by Jentner Corp
by Renee Jackson · The Cerbat GemJentner Corp lowered its holdings in Apple Inc. (NASDAQ:AAPL – Free Report) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,390 shares of the iPhone maker’s stock after selling 66 shares during the quarter. Apple accounts for 0.3% of Jentner Corp’s holdings, making the stock its 22nd biggest position. Jentner Corp’s holdings in Apple were worth $1,106,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in AAPL. Advanced Portfolio Management LLC increased its stake in Apple by 0.3% during the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock worth $3,260,000 after buying an additional 47 shares during the period. Salus Financial Advisors LLC increased its stake in Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after buying an additional 49 shares during the period. Sharpepoint LLC increased its stake in Apple by 3.5% during the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after buying an additional 51 shares during the period. Redwood Financial Network Corp increased its stake in Apple by 0.6% during the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock worth $2,184,000 after buying an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC increased its stake in Apple by 1.3% during the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock worth $892,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.
Insider Activity
In related news, CEO Timothy D. Cook sold 129,963 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the completion of the sale, the chief executive officer owned 3,280,295 shares in the company, valued at $842,412,558.95. This represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Deirdre O’brien sold 43,013 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $257.39, for a total transaction of $11,071,116.07. Following the completion of the sale, the senior vice president owned 136,687 shares of the company’s stock, valued at approximately $35,181,866.93. This trade represents a 23.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,922 shares of company stock worth $64,320,190. Corporate insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of Apple in a research note on Wednesday, August 13th. Rosenblatt Securities upped their target price on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $266.00 target price on shares of Apple in a research note on Tuesday, August 26th. Moffett Nathanson upgraded shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 price target for the company in a report on Thursday, September 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Apple in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $248.29.
Get Our Latest Analysis on AAPL
Apple Trading Down 3.5%
Shares of Apple stock opened at $245.27 on Monday. The company has a fifty day simple moving average of $237.61 and a 200-day simple moving average of $215.83. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a market cap of $3.64 trillion, a price-to-earnings ratio of 37.22, a PEG ratio of 2.39 and a beta of 1.09.
Apple (NASDAQ:AAPL – Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business had revenue of $94.04 billion during the quarter, compared to analysts’ expectations of $88.64 billion. During the same quarter in the prior year, the business posted $1.40 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Monday, August 11th were issued a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Apple’s dividend payout ratio is presently 15.78%.
Apple Company 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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