Frisch Financial Group Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,264 shares of the iPhone maker’s stock after selling 2,491 shares during the period. Apple accounts for 4.7% of Frisch Financial Group Inc.’s holdings, making the stock its 6th biggest position. Frisch Financial Group Inc.’s holdings in Apple were worth $6,979,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Concorde Asset Management LLC increased its holdings in Apple by 64.5% during the 4th quarter. Concorde Asset Management LLC now owns 6,482 shares of the iPhone maker’s stock worth $1,008,000 after purchasing an additional 2,542 shares in the last quarter. MCF Advisors LLC increased its holdings in Apple by 20.5% during the 4th quarter. MCF Advisors LLC now owns 16,316 shares of the iPhone maker’s stock worth $2,574,000 after purchasing an additional 2,781 shares in the last quarter. Adviser Investments LLC increased its holdings in Apple by 3.8% during the 4th quarter. Adviser Investments LLC now owns 82,133 shares of the iPhone maker’s stock worth $12,956,000 after purchasing an additional 2,979 shares in the last quarter. Ellevest Inc. bought a new stake in Apple during the 4th quarter worth approximately $1,174,000. Finally, Domani Wealth LLC increased its holdings in Apple by 2.5% during the 4th quarter. Domani Wealth LLC now owns 43,203 shares of the iPhone maker’s stock worth $6,815,000 after purchasing an additional 1,062 shares in the last quarter. 58.77% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $201.69, for a total value of $3,529,575.00. Following the transaction, the director now owns 1,150,783 shares in the company, valued at $232,101,423.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total value of $951,648.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,536 shares of company stock worth $62,894,611. 0.05% of the stock is owned by company insiders.
Apple stock opened at $223.09 on Friday. Apple Inc. has a 12 month low of $142.00 and a 12 month high of $233.47. The company has a current ratio of 1.50, a quick ratio of 1.47 and a debt-to-equity ratio of 0.88. The business’s 50 day simple moving average is $207.16 and its 200 day simple moving average is $196.48. The company has a market cap of $967.87 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.77 and a beta of 1.24.
Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The business had revenue of $53.81 billion for the quarter, compared to the consensus estimate of $53.39 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. Apple’s revenue for the quarter was up 1.0% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 11.68 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 12th were paid a $0.77 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.08 annualized dividend and a yield of 1.38%. Apple’s payout ratio is 25.86%.
AAPL has been the subject of a number of recent research reports. Barclays boosted their price objective on Apple from $192.00 to $207.00 and gave the stock an “equal weight” rating in a report on Wednesday. DZ Bank reissued a “neutral” rating on shares of Apple in a report on Wednesday. JPMorgan Chase & Co. set a $243.00 price objective on Apple and gave the stock a “buy” rating in a report on Monday, August 26th. Daiwa Capital Markets set a $223.00 price objective on Apple and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Citigroup boosted their price objective on Apple from $205.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $218.82.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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