Parallel Advisors LLC Sells 9,708 Shares of Apple Inc. (NASDAQ:AAPL)

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Parallel Advisors LLC lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 7.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,977 shares of the iPhone maker’s stock after selling 9,708 shares during the period. Apple makes up 2.3% of Parallel Advisors LLC’s investment portfolio, making the stock its 5th largest position. Parallel Advisors LLC’s holdings in Apple were worth $23,745,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Investment House LLC lifted its stake in shares of Apple by 2.3% in the 2nd quarter. Investment House LLC now owns 269,733 shares of the iPhone maker’s stock valued at $53,386,000 after purchasing an additional 5,945 shares during the last quarter. JLB & Associates Inc. lifted its stake in shares of Apple by 2.4% in the 2nd quarter. JLB & Associates Inc. now owns 79,856 shares of the iPhone maker’s stock valued at $15,805,000 after purchasing an additional 1,840 shares during the last quarter. FundX Investment Group LLC lifted its stake in shares of Apple by 2.6% in the 2nd quarter. FundX Investment Group LLC now owns 2,723 shares of the iPhone maker’s stock valued at $539,000 after purchasing an additional 70 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Apple by 16.0% in the 2nd quarter. Brighton Jones LLC now owns 84,928 shares of the iPhone maker’s stock valued at $16,809,000 after purchasing an additional 11,720 shares during the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC lifted its stake in shares of Apple by 0.9% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 69,698 shares of the iPhone maker’s stock valued at $13,795,000 after purchasing an additional 633 shares during the last quarter. 59.21% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Chris Kondo sold 4,376 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $217.47, for a total value of $951,648.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy D. Cook sold 265,160 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $206.17, for a total value of $54,668,037.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,536 shares of company stock worth $62,894,611. Company insiders own 0.05% of the company’s stock.

Several equities analysts recently issued reports on AAPL shares. Nomura increased their target price on Apple from $180.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets set a $223.00 target price on Apple and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Cascend Securities reissued a “buy” rating and set a $240.00 target price (up previously from $210.00) on shares of Apple in a research note on Thursday, June 20th. Citigroup increased their target price on Apple from $205.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BidaskClub raised Apple from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Apple presently has a consensus rating of “Hold” and an average price target of $217.25.

NASDAQ AAPL traded up $4.57 during trading hours on Thursday, hitting $213.76. 3,955,949 shares of the company were exchanged, compared to its average volume of 26,023,408. Apple Inc. has a 52-week low of $142.00 and a 52-week high of $233.47. The firm has a market cap of $929.60 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.71 and a beta of 1.24. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88. The company has a 50 day moving average of $205.77 and a two-hundred day moving average of $194.96.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $53.39 billion. During the same quarter in the prior year, the business posted $2.34 EPS. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 11.67 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a $0.77 dividend. The ex-dividend date was Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.44%. Apple’s payout ratio is currently 25.86%.

Apple 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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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