E Fund Management Hong Kong Co. Ltd. Sells 1,391 Shares of Apple Inc. (NASDAQ:AAPL)

E Fund Management Hong Kong Co. Ltd. lowered its position in Apple Inc. (NASDAQ:AAPL) by 51.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,287 shares of the iPhone maker’s stock after selling 1,391 shares during the period. Apple comprises approximately 0.2% of E Fund Management Hong Kong Co. Ltd.’s holdings, making the stock its 26th largest position. E Fund Management Hong Kong Co. Ltd.’s holdings in Apple were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AAPL. Yeomans Consulting Group Inc. purchased a new position in shares of Apple in the fourth quarter valued at $1,713,000. Raleigh Capital Management Inc. lifted its position in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after purchasing an additional 1,643 shares during the last quarter. GLOBALT Investments LLC GA bought a new stake in shares of Apple in the 4th quarter worth about $38,406,000. Barden Capital Management Inc. raised its position in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after buying an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC purchased a new stake in shares of Apple during the 4th quarter valued at about $4,782,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Down 0.3 %

Shares of Apple stock opened at $229.00 on Monday. 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 stock has a market cap of $3.51 trillion, a price-to-earnings ratio of 35.61, a PEG ratio of 2.69 and a beta of 1.24. The firm’s 50-day moving average is $221.88 and its two-hundred day moving average is $195.93. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 147.15%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 EPS. As a group, research analysts expect that Apple Inc. will post 6.7 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s dividend payout ratio (DPR) is presently 15.55%.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Apple news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now owns 191,543 shares in the company, valued at $39,542,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 8,706 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AAPL. Tigress Financial boosted their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Wedbush increased their price target on Apple from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. DA Davidson upgraded Apple from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $230.00 in a research report on Tuesday, June 11th. The Goldman Sachs Group boosted their price objective on shares of Apple from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays lowered their target price on shares of Apple from $187.00 to $186.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $237.30.

Apple 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.