TimesSquare Capital Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 22.7% in the first quarter, Holdings Channel reports. The firm owned 1,194 shares of the iPhone maker’s stock after selling 350 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Apple were worth $208,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bouchey Financial Group Ltd lifted its position in Apple by 13.1% during the first quarter. Bouchey Financial Group Ltd now owns 247,789 shares of the iPhone maker’s stock worth $43,266,000 after purchasing an additional 28,644 shares during the period. Empirical Asset Management LLC grew its holdings in shares of Apple by 76.5% during the 1st quarter. Empirical Asset Management LLC now owns 9,754 shares of the iPhone maker’s stock valued at $1,703,000 after purchasing an additional 4,229 shares during the last quarter. Auxano Advisors LLC grew its holdings in shares of Apple by 1.9% during the 1st quarter. Auxano Advisors LLC now owns 52,497 shares of the iPhone maker’s stock valued at $9,166,000 after purchasing an additional 967 shares during the last quarter. Aire Advisors LLC grew its holdings in shares of Apple by 0.5% during the 1st quarter. Aire Advisors LLC now owns 93,550 shares of the iPhone maker’s stock valued at $16,336,000 after purchasing an additional 493 shares during the last quarter. Finally, Courage Miller Partners LLC grew its holdings in Apple by 13.4% during the 1st quarter. Courage Miller Partners LLC now owns 7,834 shares of the iPhone maker’s stock worth $1,368,000 after acquiring an additional 923 shares during the last quarter. Institutional investors own 57.72% of the company’s stock.
In other news, SVP Katherine L. Adams sold 25,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the completion of the sale, the senior vice president now owns 427,334 shares in the company, valued at $70,411,823.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Luca Maestri sold 96,735 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares in the company, valued at $19,362,241.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the sale, the senior vice president now owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.
Apple Stock Down 1.5 %
Apple stock opened at $158.91 on Wednesday. Apple Inc. has a 1-year low of $129.04 and a 1-year high of $182.94. The firm has a market capitalization of $2.55 trillion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The firm’s fifty day moving average price is $155.68 and its two-hundred day moving average price is $156.99. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.
Apple (NASDAQ:AAPL – Get Rating) last announced its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. The company had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. Apple had a net margin of 25.71% and a return on equity of 152.97%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. On average, equities research analysts predict that Apple Inc. will post 6.1 earnings per share for the current fiscal year.
Apple Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, August 5th. This represents a $0.92 annualized dividend and a dividend yield of 0.58%. Apple’s dividend payout ratio is currently 15.18%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on AAPL. The Goldman Sachs Group set a $139.00 price target on shares of Apple in a report on Friday, July 29th. Wedbush raised their price objective on Apple from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. JPMorgan Chase & Co. set a $200.00 target price on shares of Apple in a research report on Monday. Fundamental Research set a $177.07 price target on shares of Apple and gave the stock a “buy” rating in a report on Thursday, August 4th. Finally, Itaú Unibanco initiated coverage on shares of Apple in a research note on Tuesday, July 26th. They issued an “underperform” rating and a $136.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $181.18.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.
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