Apple Inc. (NASDAQ:AAPL) Shares Sold by RiverPark Advisors LLC

RiverPark Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,317 shares of the iPhone maker’s stock after selling 1,362 shares during the period. Apple accounts for 5.1% of RiverPark Advisors LLC’s portfolio, making the stock its 3rd largest holding. RiverPark Advisors LLC’s holdings in Apple were worth $6,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Riverpark Capital Management LLC raised its stake in Apple by 4.0% in the 2nd quarter. Riverpark Capital Management LLC now owns 16,823 shares of the iPhone maker’s stock valued at $3,543,000 after acquiring an additional 647 shares during the period. Sequent Asset Management LLC bought a new position in shares of Apple in the second quarter valued at about $214,000. GAM Holding AG lifted its stake in shares of Apple by 86.8% during the 2nd quarter. GAM Holding AG now owns 162,234 shares of the iPhone maker’s stock worth $34,170,000 after buying an additional 75,378 shares during the last quarter. AlphaStar Capital Management LLC boosted its holdings in shares of Apple by 8.3% during the 2nd quarter. AlphaStar Capital Management LLC now owns 91,138 shares of the iPhone maker’s stock worth $19,195,000 after buying an additional 6,972 shares during the period. Finally, Yong Rong HK Asset Management Ltd acquired a new position in Apple in the 2nd quarter valued at about $33,131,000. 60.41% of the stock is owned by institutional investors.

Apple Trading Up 0.3 %

NASDAQ AAPL opened at $226.78 on Thursday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.23. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.48 trillion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.24. The business’s 50-day moving average price is $222.56 and its two-hundred day moving average price is $203.34.

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

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were issued a $0.25 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple’s payout ratio is 15.55%.

Wall Street Analysts Forecast Growth

AAPL has been the subject of a number of research analyst reports. Wedbush restated an “outperform” rating and set a $285.00 price objective on shares of Apple in a report on Monday, September 9th. Oppenheimer reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday. New Street Research restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 target price on shares of Apple in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $238.76.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 5,178 shares of Apple stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Chris Kondo sold 5,178 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $216.50, for a total transaction of $1,121,037.00. Following the completion of the sale, the insider now owns 24,125 shares of the company’s stock, valued at approximately $5,223,062.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Katherine L. Adams sold 100,000 shares of Apple 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 completion of the sale, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by insiders.

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.