Apple Inc. (NASDAQ:AAPL) Stock Holdings Reduced by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 380,248 shares of the iPhone maker’s stock after selling 537 shares during the period. Apple comprises 7.5% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 2nd biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Apple were worth $80,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AAPL. Cherrydale Wealth Management LLC lifted its position in shares of Apple by 7.5% during the first quarter. Cherrydale Wealth Management LLC now owns 9,685 shares of the iPhone maker’s stock worth $1,661,000 after acquiring an additional 675 shares in the last quarter. FCF Advisors LLC raised its position in shares of Apple by 8.6% in the first quarter. FCF Advisors LLC now owns 151,994 shares of the iPhone maker’s stock worth $26,064,000 after buying an additional 12,071 shares in the last quarter. Lbmc Investment Advisors LLC raised its position in shares of Apple by 1.7% in the first quarter. Lbmc Investment Advisors LLC now owns 50,997 shares of the iPhone maker’s stock worth $8,745,000 after buying an additional 837 shares in the last quarter. Westend Capital Management LLC purchased a new stake in shares of Apple in the first quarter worth $222,000. Finally, Steph & Co. raised its position in shares of Apple by 3.8% in the first quarter. Steph & Co. now owns 12,645 shares of the iPhone maker’s stock worth $2,168,000 after buying an additional 458 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 0.4 %

AAPL opened at $231.41 on Friday. The firm has a 50-day simple moving average of $226.86 and a two-hundred day simple moving average of $210.34. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a market capitalization of $3.55 trillion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 2.40 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, beating 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 the consensus estimate of $84.43 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction on Friday, October 4th. The stock was 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 $24,416,137.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,924 shares of company stock valued at $114,786,399. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAPL. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research report on Friday. Oppenheimer reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, Piper Sandler Companies reissued a “neutral” rating and issued a $225.00 target price (up previously from $190.00) on shares of Apple in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average 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.