Cahill Financial Advisors Inc. Has $17.24 Million Stake in Apple Inc. (NASDAQ:AAPL)

Cahill Financial Advisors Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.5% during the second quarter, HoldingsChannel.com reports. The firm owned 81,854 shares of the iPhone maker’s stock after selling 1,266 shares during the period. Apple makes up approximately 2.4% of Cahill Financial Advisors Inc.’s portfolio, making the stock its 12th biggest holding. Cahill Financial Advisors Inc.’s holdings in Apple were worth $17,240,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Access Investment Management LLC bought a new position in Apple during the first quarter worth $140,000. Hoese & Co LLP raised its position in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. bought a new position in shares of Apple in the 2nd quarter worth $206,000. Benchmark Wealth Management LLC acquired a new position in Apple during the second quarter worth $208,000. Finally, Sequent Asset Management LLC bought a new position in Apple in the 2nd quarter valued at about $214,000. Institutional investors own 60.41% of the company’s stock.

Apple Stock Performance

Shares of AAPL stock opened at $231.41 on Friday. The stock has a 50 day moving average price of $226.75 and a two-hundred day moving average price of $209.62. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The company has a market capitalization of $3.55 trillion, a P/E ratio of 35.99, a PEG ratio of 2.40 and a beta of 1.24. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.91 and a current ratio of 0.95.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The business had revenue of $85.78 billion during the quarter, compared to analyst estimates of $84.43 billion. During the same period in the prior year, the business earned $1.26 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that Apple Inc. will post 6.65 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s payout ratio is currently 15.55%.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares of the company’s stock, valued at approximately $24,416,137.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 517,924 shares of company stock worth $114,786,399. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAPL. The Goldman Sachs Group lifted their price target on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a report on Thursday, October 3rd. Piper Sandler reiterated a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Piper Sandler Companies reaffirmed a “neutral” rating and issued a $225.00 price objective (up from $190.00) on shares of Apple in a report on Tuesday, July 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $235.91.

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.