Apple Inc. (NASDAQ:AAPL) Shares Sold by Weil Company Inc.

Weil Company Inc. lowered its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,358 shares of the iPhone maker’s stock after selling 16,616 shares during the quarter. Apple makes up about 9.0% of Weil Company Inc.’s investment portfolio, making the stock its 2nd largest holding. Weil Company Inc.’s holdings in Apple were worth $17,873,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Joseph Group Capital Management acquired a new stake in Apple in the fourth quarter valued at $1,631,000. Cardinal Capital Management Inc. lifted its stake in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares during the last quarter. Shore Point Advisors LLC acquired a new stake in shares of Apple during the 4th quarter worth about $41,000. Emerson Wealth LLC lifted its stake in shares of Apple by 363.6% during the 1st quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares during the last quarter. Finally, Econ Financial Services Corp lifted its stake in shares of Apple by 29.1% during the 1st quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 57.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AAPL. Barclays cut their target price on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 13th. Itaú Unibanco began coverage on shares of Apple in a research note on Tuesday, July 26th. They set an “underperform” rating and a $136.00 target price for the company. Bank of America cut their target price on shares of Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Loop Capital cut their target price on shares of Apple from $210.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 25th. Finally, Itau BBA Securities assumed coverage on shares of Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.18.

Apple Stock Down 1.4 %

NASDAQ:AAPL opened at $161.38 on Tuesday. The firm’s 50 day simple moving average is $155.22 and its 200 day simple moving average is $156.98. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. Apple Inc. has a one year low of $129.04 and a one year high of $182.94. The company has a market cap of $2.59 trillion, a PE ratio of 26.63, a P/E/G ratio of 2.16 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. Apple had a net margin of 25.71% and a return on equity of 152.97%. The business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. During the same period last year, the company earned $1.30 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, research analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a dividend of $0.23 per share. The ex-dividend date was Friday, August 5th. This represents a $0.92 annualized dividend and a yield of 0.57%. Apple’s dividend payout ratio is presently 15.18%.

Insider Buying and Selling

In other news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Katherine L. Adams sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 427,334 shares in the company, valued at approximately $70,411,823.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

About Apple

(Get Rating)

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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