Hartwell J M Limited Partnership Cuts Stake in Apple Inc. (NASDAQ:AAPL)

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Hartwell J M Limited Partnership reduced its stake in shares of Apple Inc. (NASDAQ:AAPL) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,624 shares of the iPhone maker’s stock after selling 1,136 shares during the quarter. Apple comprises approximately 0.3% of Hartwell J M Limited Partnership’s holdings, making the stock its 23rd largest position. Hartwell J M Limited Partnership’s holdings in Apple were worth $1,509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. Centaurus Financial Inc. lifted its position in Apple by 17.9% in the first quarter. Centaurus Financial Inc. now owns 8,318 shares of the iPhone maker’s stock worth $44,000 after buying an additional 1,262 shares during the last quarter. Semmax Financial Advisors Inc. bought a new stake in Apple in the fourth quarter worth $50,000. Avondale Wealth Management lifted its position in Apple by 25.4% in the second quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock worth $63,000 after buying an additional 64 shares during the last quarter. NuWave Investment Management LLC lifted its position in Apple by 2,245.0% in the second quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock worth $93,000 after buying an additional 449 shares during the last quarter. Finally, Horan Securities Inc. lifted its position in Apple by 64.2% in the second quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock worth $112,000 after buying an additional 221 shares during the last quarter. 59.21% of the stock is owned by institutional investors and hedge funds.

In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $206.17, for a total value of $54,668,037.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $201.69, for a total value of $3,529,575.00. Following the completion of the transaction, the director now directly owns 1,150,783 shares of the company’s stock, valued at $232,101,423.27. The disclosure for this sale can be found here. Insiders have sold 304,536 shares of company stock valued at $62,894,611 in the last ninety days. Corporate insiders own 0.05% of the company’s stock.

A number of analysts recently issued reports on AAPL shares. Bank of America raised their price target on Apple from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Cowen set a $250.00 price target on Apple and gave the stock a “buy” rating in a research report on Wednesday, August 21st. ValuEngine downgraded Apple from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Rosenblatt Securities restated a “sell” rating and issued a $150.00 price target on shares of Apple in a research report on Monday, July 8th. Finally, Sanford C. Bernstein restated a “neutral” rating and issued a $205.00 price target on shares of Apple in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $217.25.

Shares of AAPL stock opened at $203.92 on Wednesday. Apple Inc. has a fifty-two week low of $142.00 and a fifty-two week high of $233.47. The firm has a market capitalization of $915.77 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.69 and a beta of 1.25. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.47 and a current ratio of 1.50. The stock’s 50-day simple moving average is $205.07 and its 200-day simple moving average is $193.47.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business had revenue of $53.81 billion for the quarter, compared to analyst estimates of $53.39 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 11.63 earnings per share for the current year.

Apple declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 30th that authorizes the company to repurchase $75.00 billion in shares. This repurchase authorization authorizes the iPhone maker to purchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, August 9th. Apple’s dividend payout ratio (DPR) is 25.86%.

Apple Company Profile

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

Read More: When can a hold rating present a buying opportunity?

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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