Delta Investment Management LLC Cuts Stock Position in Apple Inc. $AAPL

Delta Investment Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 60,070 shares of the iPhone maker’s stock after selling 1,309 shares during the quarter. Apple accounts for about 2.4% of Delta Investment Management LLC’s holdings, making the stock its 13th largest holding. Delta Investment Management LLC’s holdings in Apple were worth $12,325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Ryan Investment Management Inc. bought a new position in shares of Apple during the 2nd quarter valued at $31,000. ROSS JOHNSON & Associates LLC lifted its stake in Apple by 1,800.0% in the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock worth $42,000 after purchasing an additional 180 shares during the last quarter. Nexus Investment Management ULC boosted its position in Apple by 333.3% during the second quarter. Nexus Investment Management ULC now owns 260 shares of the iPhone maker’s stock valued at $53,000 after buying an additional 200 shares during the period. LSV Asset Management bought a new position in shares of Apple during the fourth quarter valued at about $65,000. Finally, Elite Financial Inc. bought a new position in shares of Apple during the first quarter valued at about $58,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 3,752 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the sale, the insider owned 15,098 shares in the company, valued at approximately $4,095,030.54. The trade was a 19.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of the company’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 228,052 shares of company stock valued at $58,604,588. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Citigroup restated a “buy” rating and set a $315.00 target price (up from $245.00) on shares of Apple in a report on Friday, October 31st. TD Cowen boosted their price objective on Apple from $275.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Melius raised their target price on shares of Apple from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Moffett Nathanson raised shares of Apple from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a research note on Thursday, September 4th. Finally, The Goldman Sachs Group increased their price target on shares of Apple from $279.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $278.22.

Apple Price Performance

AAPL stock opened at $277.55 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $169.21 and a 1 year high of $280.38. The firm has a 50-day moving average of $262.61 and a 200 day moving average of $231.12. The company has a market cap of $4.10 trillion, a P/E ratio of 42.12, a PEG ratio of 2.62 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. On average, sell-side analysts forecast that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s dividend payout ratio (DPR) is currently 13.92%.

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.