Hudson Edge Investment Partners Inc. Has $2.42 Million Stake in Apple Inc. (NASDAQ:AAPL)

Hudson Edge Investment Partners Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,485 shares of the iPhone maker’s stock after selling 442 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Apple were worth $2,419,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Access Investment Management LLC bought a new position in shares of Apple in the first quarter valued at approximately $140,000. Hoese & Co LLP lifted its stake in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares in the last quarter. Sage Financial Group Inc. purchased a new position in Apple during the 2nd quarter worth $206,000. Benchmark Wealth Management LLC bought a new stake in shares of Apple in the 2nd quarter worth $208,000. Finally, Sequent Asset Management LLC purchased a new stake in shares of Apple in the second quarter valued at about $214,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on AAPL. Loop Capital upped their price objective on shares of Apple to $300.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Bank of America reiterated a “buy” rating and set a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research note on Tuesday, September 10th. Finally, Wedbush reiterated an “outperform” rating and set a $285.00 target price on shares of Apple in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.27.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 59,305 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the transaction, the chief financial officer now directly owns 107,788 shares in the company, valued at $24,416,137.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Luca Maestri sold 59,305 shares of the business’s stock in a transaction that occurred on 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 directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the 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 transaction, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 517,924 shares of company stock worth $114,786,399 in the last quarter. 0.06% of the stock is owned by insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $230.57 on Friday. The company’s fifty day moving average price is $226.64 and its 200-day moving average price is $209.48. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. The firm has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 35.86, a PEG ratio of 2.40 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

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

Apple Dividend Announcement

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

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.