Apple Inc. (NASDAQ:AAPL) Shares Sold by Bowie Capital Management LLC

Bowie Capital Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 44.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 185,119 shares of the iPhone maker’s stock after selling 147,205 shares during the period. Apple makes up about 2.4% of Bowie Capital Management LLC’s portfolio, making the stock its 19th largest holding. Bowie Capital Management LLC’s holdings in Apple were worth $38,990,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AAPL. tru Independence LLC lifted its position in shares of Apple by 0.6% during the 2nd quarter. tru Independence LLC now owns 35,274 shares of the iPhone maker’s stock valued at $7,429,000 after acquiring an additional 213 shares during the last quarter. Emerald Advisers LLC lifted its position in shares of Apple by 8.4% during the 2nd quarter. Emerald Advisers LLC now owns 28,340 shares of the iPhone maker’s stock valued at $5,969,000 after acquiring an additional 2,198 shares during the last quarter. Caprock Group LLC lifted its position in shares of Apple by 41.5% during the 2nd quarter. Caprock Group LLC now owns 424,428 shares of the iPhone maker’s stock valued at $89,393,000 after acquiring an additional 124,488 shares during the last quarter. Lynch & Associates IN lifted its position in shares of Apple by 3.1% during the 2nd quarter. Lynch & Associates IN now owns 47,860 shares of the iPhone maker’s stock valued at $10,080,000 after acquiring an additional 1,442 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its position in shares of Apple by 27.4% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 16,991 shares of the iPhone maker’s stock valued at $3,578,000 after acquiring an additional 3,658 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the subject of a number of recent research reports. Barclays reiterated an “underweight” rating and set a $186.00 price objective on shares of Apple in a research report on Tuesday, October 1st. TD Cowen boosted their target price on shares of Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. KeyCorp reissued a “hold” rating and set a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Thursday, September 19th. Finally, Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $237.27.

Apple Stock Down 0.1 %

AAPL stock opened at $230.57 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a 50-day moving average of $226.64 and a two-hundred day moving average of $209.48. The stock has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 6.65 EPS for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, August 12th. Apple’s dividend payout ratio (DPR) is 15.55%.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the sale, the chief financial officer now owns 107,788 shares in the company, valued at approximately $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the transaction, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. This represents a 0.00 % decrease in their position. 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. Company insiders own 0.06% of the company’s stock.

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.