Aire Advisors LLC Cuts Position in Apple Inc. (NASDAQ:AAPL)

Aire Advisors LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,081 shares of the iPhone maker’s stock after selling 1,356 shares during the period. Apple comprises about 8.8% of Aire Advisors LLC’s investment portfolio, making the stock its largest position. Aire Advisors LLC’s holdings in Apple were worth $38,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AAPL. Fidelis Capital Partners LLC boosted its holdings in shares of Apple by 17.9% in the 1st quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 31,278 shares in the last quarter. Access Investment Management LLC purchased a new position in Apple during the 1st quarter worth approximately $140,000. Hoese & Co LLP increased its holdings in shares of 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 purchasing an additional 57 shares in the last quarter. Benchmark Wealth Management LLC purchased a new position in shares of Apple during the 2nd quarter valued at approximately $208,000. Finally, Compass Financial Group Inc. purchased a new position in shares of Apple during the 1st quarter valued at approximately $210,000. 60.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 191,543 shares in the company, valued at approximately $39,542,136.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Chris Kondo sold 5,178 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 24,125 shares in the company, valued at approximately $5,223,062.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value 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 $39,542,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 517,924 shares of company stock valued at $114,786,399 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Moffett Nathanson assumed coverage on shares of Apple in a research report on Monday, August 19th. They issued a “neutral” rating and a $211.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. KeyCorp restated a “hold” rating and set a $247.61 target price on shares of Apple in a research note on Wednesday, August 28th. Finally, StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $239.27.

Apple Trading Down 0.9 %

Shares of AAPL stock opened at $231.78 on Thursday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49. The stock has a market cap of $3.55 trillion, a P/E ratio of 36.05, a P/E/G ratio of 2.40 and a beta of 1.24. The business has a fifty day simple moving average of $225.03 and a 200-day simple moving average of $207.22. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 1.29.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 147.15% and a net margin of 26.44%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 EPS. On average, analysts forecast that Apple Inc. will post 6.65 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

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.