Apple Inc. (NASDAQ:AAPL) Shares Sold by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,987 shares of the iPhone maker’s stock after selling 1,467 shares during the period. Apple makes up approximately 8.1% of Pegasus Asset Management Inc.’s holdings, making the stock its 2nd biggest position. Pegasus Asset Management Inc.’s holdings in Apple were worth $18,231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Center For Asset Management LLC lifted its position in shares of Apple by 53.3% in the second quarter. Center For Asset Management LLC now owns 21,898 shares of the iPhone maker’s stock worth $4,247,000 after buying an additional 7,616 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co increased its stake in shares of Apple by 8.3% in the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 785,000 shares of the iPhone maker’s stock worth $129,447,000 after purchasing an additional 60,000 shares during the period. Arista Wealth Management LLC increased its stake in shares of Apple by 1.0% in the first quarter. Arista Wealth Management LLC now owns 26,680 shares of the iPhone maker’s stock worth $4,399,000 after purchasing an additional 261 shares during the period. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Apple by 22.2% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 7,897 shares of the iPhone maker’s stock worth $1,532,000 after purchasing an additional 1,436 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Apple by 2.3% in the first quarter. Thrivent Financial for Lutherans now owns 3,919,534 shares of the iPhone maker’s stock worth $646,332,000 after purchasing an additional 89,615 shares during the period. Institutional investors and hedge funds own 58.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AAPL shares. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Apple in a research note on Tuesday, October 31st. TD Cowen lifted their price objective on Apple from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. Credit Suisse Group reiterated an “outperform” rating and issued a $220.00 price objective on shares of Apple in a research note on Friday, September 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on Apple from $180.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Finally, UBS Group restated a “neutral” rating and set a $190.00 price target on shares of Apple in a research note on Wednesday, September 27th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $198.25.

Insider Buying and Selling at Apple

In other news, SVP Deirdre O’brien sold 65,536 shares of the stock in a transaction on Tuesday, October 3rd. The stock was 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 owns 136,445 shares of the company’s stock, valued at approximately $23,483,548.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Timothy D. Cook sold 240,569 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares of the company’s stock, valued at approximately $565,809,142.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total value of $11,279,400.96. Following the sale, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 567,839 shares of company stock worth $100,675,794. Insiders own 0.06% of the company’s stock.

Apple Stock Up 0.9 %

NASDAQ:AAPL opened at $191.45 on Tuesday. The stock’s fifty day moving average price is $177.15 and its two-hundred day moving average price is $181.03. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.94 and a current ratio of 0.99. The company has a market cap of $2.98 trillion, a price-to-earnings ratio of 31.28, a P/E/G ratio of 2.60 and a beta of 1.30.

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

Apple Dividend Announcement

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

About Apple

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.