Requisite Capital Management LLC Reduces Position in Apple Inc. (NASDAQ:AAPL)

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Requisite Capital Management LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,706 shares of the iPhone maker’s stock after selling 520 shares during the period. Apple accounts for 0.7% of Requisite Capital Management LLC’s investment portfolio, making the stock its 25th biggest position. Requisite Capital Management LLC’s holdings in Apple were worth $1,921,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. JLB & Associates Inc. increased its position in Apple by 2.4% during the second quarter. JLB & Associates Inc. now owns 79,856 shares of the iPhone maker’s stock worth $15,805,000 after buying an additional 1,840 shares in the last quarter. FundX Investment Group LLC boosted its stake in Apple by 2.6% in the second quarter. FundX Investment Group LLC now owns 2,723 shares of the iPhone maker’s stock valued at $539,000 after acquiring an additional 70 shares during the period. Brighton Jones LLC boosted its stake in Apple by 16.0% in the second quarter. Brighton Jones LLC now owns 84,928 shares of the iPhone maker’s stock valued at $16,809,000 after acquiring an additional 11,720 shares during the period. Sullivan Bruyette Speros & Blaney LLC boosted its stake in Apple by 0.9% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 69,698 shares of the iPhone maker’s stock valued at $13,795,000 after acquiring an additional 633 shares during the period. Finally, Timber Creek Capital Management LLC boosted its stake in Apple by 0.3% in the second quarter. Timber Creek Capital Management LLC now owns 16,839 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 56 shares during the period. 59.21% of the stock is owned by institutional investors.

A number of brokerages have commented on AAPL. Morgan Stanley set a $247.00 target price on Apple and gave the company a “buy” rating in a research note on Wednesday, July 31st. Raymond James upgraded Apple from a “market perform” rating to an “outperform” rating and set a $250.00 price objective for the company in a research report on Thursday, July 18th. Deutsche Bank boosted their price objective on Apple from $205.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. BidaskClub upgraded Apple from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, Evercore ISI assumed coverage on Apple in a research report on Thursday, June 6th. They set an “outperform” rating and a $205.00 price objective for the company. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $217.25.

In other Apple news, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction on 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 legal filing with the SEC, which is accessible through this link. Also, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction on 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. Insiders sold 304,536 shares of company stock valued at $62,894,611 over the last 90 days. 0.05% of the stock is currently owned by insiders.

AAPL traded up $4.57 during trading on Thursday, reaching $213.76. The stock had a trading volume of 3,955,949 shares, compared to its average volume of 26,023,408. The firm has a market capitalization of $929.60 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth 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. Apple Inc. has a 1-year low of $142.00 and a 1-year high of $233.47. The stock 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 earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.08. The firm had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. Apple had a return on equity of 52.13% and a net margin of 21.50%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.34 earnings per share. On average, research analysts forecast that Apple Inc. will post 11.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.77 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a yield of 1.44%. Apple’s dividend payout ratio (DPR) is 25.86%.

About Apple

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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