Apple Inc. (NASDAQ:AAPL) is Cutter & CO Brokerage Inc.’s 9th Largest Position

Cutter & CO Brokerage Inc. lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,021 shares of the iPhone maker’s stock after selling 790 shares during the period. Apple comprises about 2.1% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 9th largest position. Cutter & CO Brokerage Inc.’s holdings in Apple were worth $7,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Portside Wealth Group LLC purchased a new stake in Apple during the second quarter worth about $356,559,000. Regency Capital Management Inc. DE purchased a new stake in Apple during the second quarter worth about $207,000. Perennial Advisors LLC increased its holdings in Apple by 7.8% during the second quarter. Perennial Advisors LLC now owns 131,211 shares of the iPhone maker’s stock worth $25,451,000 after buying an additional 9,467 shares during the last quarter. Financial Advisors LLC increased its holdings in Apple by 1.5% during the second quarter. Financial Advisors LLC now owns 25,915 shares of the iPhone maker’s stock worth $5,027,000 after buying an additional 377 shares during the last quarter. Finally, RFP Financial Group LLC increased its holdings in Apple by 1,005.3% during the second quarter. RFP Financial Group LLC now owns 101,156 shares of the iPhone maker’s stock worth $19,603,000 after buying an additional 92,004 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Apple Trading Up 0.9 %

Shares of Apple stock opened at $191.45 on Tuesday. Apple Inc. has a 1 year low of $124.17 and a 1 year high of $198.23. The firm has a market cap of $2.98 trillion, a PE ratio of 31.28, a PEG ratio of 2.60 and a beta of 1.30. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.99 and a quick ratio of 0.94. The company has a 50 day simple moving average of $177.15 and a two-hundred day simple moving average of $181.03.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, topping the consensus estimate of $1.39 by $0.07. The firm had revenue of $89.50 billion for the quarter, compared to the consensus estimate of $89.34 billion. Apple had a net margin of 25.31% and a return on equity of 160.78%. The business’s revenue was down .7% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. Analysts expect that Apple Inc. will post 6.56 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, November 13th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Friday, November 10th. Apple’s dividend payout ratio (DPR) is presently 15.69%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 123,448 shares of Apple stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the transaction, the senior vice president now directly owns 293,266 shares of the company’s stock, valued at $55,365,688.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the transaction, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 123,448 shares of Apple stock in a transaction on Friday, November 17th. The stock was sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the completion of the transaction, the senior vice president now directly owns 293,266 shares in the company, valued at $55,365,688.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 567,839 shares of company stock valued at $100,675,794. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AAPL. Needham & Company LLC restated a “buy” rating and set a $195.00 price objective on shares of Apple in a report on Tuesday, October 31st. Rosenblatt Securities decreased their price objective on shares of Apple from $198.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. KeyCorp reiterated a “sector weight” rating on shares of Apple in a research note on Monday, October 30th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Apple in a research note on Thursday, September 21st. Finally, Tigress Financial lifted their target price on shares of Apple from $225.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 16th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.25.

Apple 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.