Evanson Asset Management LLC Sells 1,948 Shares of Apple Inc. (NASDAQ:AAPL)

Evanson Asset Management LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,765 shares of the iPhone maker’s stock after selling 1,948 shares during the period. Apple makes up about 4.9% of Evanson Asset Management LLC’s holdings, making the stock its 3rd largest holding. Evanson Asset Management LLC’s holdings in Apple were worth $24,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of AAPL. CX Institutional grew its holdings in shares of Apple by 483.2% during the fourth quarter. CX Institutional now owns 8,724 shares of the iPhone maker’s stock worth $1,376,000 after buying an additional 7,228 shares in the last quarter. Sanders Morris Harris LLC boosted its position in shares of Apple by 2.1% in the fourth quarter. Sanders Morris Harris LLC now owns 14,052 shares of the iPhone maker’s stock worth $2,216,000 after acquiring an additional 291 shares during the last quarter. Beech Hill Advisors Inc. boosted its position in shares of Apple by 1.1% in the fourth quarter. Beech Hill Advisors Inc. now owns 54,768 shares of the iPhone maker’s stock worth $8,639,000 after acquiring an additional 595 shares during the last quarter. Columbus Macro LLC boosted its position in shares of Apple by 2.6% in the fourth quarter. Columbus Macro LLC now owns 37,685 shares of the iPhone maker’s stock worth $5,944,000 after acquiring an additional 946 shares during the last quarter. Finally, Stony Point Wealth Management Inc. boosted its position in shares of Apple by 16.2% in the fourth quarter. Stony Point Wealth Management Inc. now owns 10,289 shares of the iPhone maker’s stock worth $1,623,000 after acquiring an additional 1,436 shares during the last quarter. 59.67% of the stock is owned by hedge funds and other institutional investors.

AAPL has been the topic of several research analyst reports. Deutsche Bank raised their target price on shares of Apple from $205.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Wedbush reissued an “outperform” rating and issued a $200.48 target price (down from $245.00) on shares of Apple in a research report on Tuesday. Credit Suisse Group set a $209.00 target price on shares of Apple and gave the stock a “neutral” rating in a research report on Tuesday. Evercore ISI initiated coverage on shares of Apple in a research report on Thursday, June 6th. They issued an “outperform” rating and a $205.00 target price on the stock. Finally, Cowen raised their target price on shares of Apple from $220.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a sell rating, twenty have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $216.11.

In other news, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the completion of the sale, the director now directly owns 1,150,783 shares of the company’s stock, valued at approximately $232,101,423.27. The disclosure for this sale can be found here. Insiders have sold 39,376 shares of company stock valued at $8,226,574 in the last 90 days. Insiders own 0.05% of the company’s stock.

AAPL stock opened at $201.74 on Friday. The firm has a fifty day moving average price of $203.69 and a two-hundred day moving average price of $191.64. The firm has a market cap of $944.37 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.76 and a beta of 1.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. Apple Inc. has a 1-year low of $142.00 and a 1-year high of $233.47.

Apple (NASDAQ:AAPL) last released its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 EPS for the quarter, topping the consensus estimate of $2.10 by $0.08. The business had revenue of $53.81 billion during the quarter, compared to analyst estimates of $53.39 billion. Apple had a net margin of 21.50% and a return on equity of 52.13%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 earnings per share. As a group, analysts expect that Apple Inc. will post 11.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were given a dividend of $0.77 per share. The ex-dividend date was Friday, August 9th. This represents a $3.08 annualized dividend and a dividend yield of 1.53%. Apple’s dividend payout ratio is currently 25.86%.

Apple announced that its board has authorized a stock repurchase program on Tuesday, April 30th that authorizes the company to repurchase $75.00 billion in shares. This repurchase authorization authorizes the iPhone maker to reacquire up to 7.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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