Apple Inc. (NASDAQ:AAPL) Shares Sold by Cox Capital Mgt LLC

Cox Capital Mgt LLC lowered its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,257 shares of the iPhone maker’s stock after selling 95 shares during the quarter. Apple accounts for 2.2% of Cox Capital Mgt LLC’s investment portfolio, making the stock its 12th biggest position. Cox Capital Mgt LLC’s holdings in Apple were worth $3,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Donald L. Hagan LLC grew its position in shares of Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after buying an additional 61 shares during the period. Goodwin Daniel L lifted its stake in Apple by 0.5% during the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock valued at $2,230,000 after acquiring an additional 62 shares during the period. Opus Capital Group LLC lifted its stake in Apple by 0.3% during the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock valued at $3,332,000 after acquiring an additional 63 shares during the period. Norwood Financial Corp lifted its stake in shares of Apple by 0.9% in the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock worth $1,227,000 after purchasing an additional 65 shares during the period. Finally, Investors Research Corp lifted its stake in shares of Apple by 0.4% in the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock worth $2,814,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AAPL. Fundamental Research set a $177.07 price objective on shares of Apple and gave the company a “buy” rating in a report on Thursday, August 4th. KeyCorp raised their price target on Apple from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. Credit Suisse Group set a $201.00 target price on Apple in a research report on Thursday, September 8th. Bank of America cut their price target on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Finally, Sanford C. Bernstein set a $170.00 target price on Apple in a research note on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.52.

Insider Buying and Selling at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the transaction, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Apple Stock Down 1.1 %

Apple stock opened at $150.70 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The firm’s fifty day moving average price is $159.65 and its two-hundred day moving average price is $156.02. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The firm has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 1.95 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.06. The business had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. Apple’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. On average, equities research analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is 15.18%.

Apple Profile

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Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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