Shariaportfolio Inc. Sells 1,012 Shares of Apple Inc. (NASDAQ:AAPL)

Shariaportfolio Inc. cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 20.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,949 shares of the iPhone maker’s stock after selling 1,012 shares during the quarter. Apple makes up about 0.4% of Shariaportfolio Inc.’s investment portfolio, making the stock its 27th largest position. Shariaportfolio Inc.’s holdings in Apple were worth $832,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Searcy Financial Services Inc. ADV grew its position in Apple by 2.6% during the 1st quarter. Searcy Financial Services Inc. ADV now owns 49,490 shares of the iPhone maker’s stock worth $8,487,000 after acquiring an additional 1,241 shares during the last quarter. Griffin Asset Management Inc. grew its position in shares of Apple by 2.6% in the 1st quarter. Griffin Asset Management Inc. now owns 197,080 shares of the iPhone maker’s stock worth $33,795,000 after buying an additional 4,980 shares during the last quarter. Grimes & Company Inc. grew its position in shares of Apple by 9.5% in the 1st quarter. Grimes & Company Inc. now owns 446,017 shares of the iPhone maker’s stock worth $76,483,000 after buying an additional 38,608 shares during the last quarter. Meritas Wealth Management LLC grew its position in shares of Apple by 0.4% in the 1st quarter. Meritas Wealth Management LLC now owns 41,527 shares of the iPhone maker’s stock worth $7,121,000 after buying an additional 150 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. grew its position in shares of Apple by 0.8% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 86,035 shares of the iPhone maker’s stock worth $14,753,000 after buying an additional 690 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chris Kondo sold 5,178 shares of the business’s 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 sale, the insider now owns 24,125 shares in the company, valued at $5,223,062.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,924 shares of company stock worth $94,142,399 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $223.45 on Wednesday. The stock’s 50-day simple moving average is $226.98 and its 200-day simple moving average is $213.44. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.39 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.45 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a $0.25 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is 16.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AAPL shares. Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Friday, October 25th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Evercore ISI reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $260.00 price objective on shares of Apple in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $235.51.

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.