Bouchey Financial Group Ltd lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,234 shares of the iPhone maker’s stock after selling 166 shares during the period. Apple accounts for about 1.1% of Bouchey Financial Group Ltd’s holdings, making the stock its 19th largest holding. Bouchey Financial Group Ltd’s holdings in Apple were worth $4,598,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of AAPL. Weather Gauge Advisory LLC lifted its position in Apple by 0.4% in the 2nd quarter. Weather Gauge Advisory LLC now owns 15,905 shares of the iPhone maker’s stock valued at $3,148,000 after acquiring an additional 60 shares in the last quarter. Insight 2811 Inc. lifted its holdings in shares of Apple by 1.4% during the 2nd quarter. Insight 2811 Inc. now owns 4,695 shares of the iPhone maker’s stock valued at $960,000 after buying an additional 63 shares during the period. Gradient Capital Advisors LLC lifted its holdings in shares of Apple by 0.3% during the 4th quarter. Gradient Capital Advisors LLC now owns 25,288 shares of the iPhone maker’s stock valued at $3,989,000 after buying an additional 69 shares during the period. New Potomac Partners LLC lifted its holdings in shares of Apple by 0.5% during the 4th quarter. New Potomac Partners LLC now owns 14,501 shares of the iPhone maker’s stock valued at $2,287,000 after buying an additional 70 shares during the period. Finally, Connecticut Wealth Management LLC lifted its holdings in shares of Apple by 1.0% during the 4th quarter. Connecticut Wealth Management LLC now owns 7,209 shares of the iPhone maker’s stock valued at $1,137,000 after buying an additional 70 shares during the period. Institutional investors own 59.67% of the company’s stock.
AAPL has been the topic of several research analyst reports. Barclays initiated coverage on Apple in a report on Wednesday, August 7th. They set an “equal weight” rating and a $192.00 price target on the stock. Maxim Group lowered their price target on Apple to $211.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Citigroup increased their price target on Apple from $205.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank increased their price target on Apple from $205.00 to $210.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Nomura increased their price target on Apple from $180.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $216.11.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analyst estimates of $53.39 billion. During the same quarter in the prior year, the business posted $2.34 EPS. Apple’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that Apple Inc. will post 11.58 EPS for the current fiscal year.
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 $0.77 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a yield of 1.53%. Apple’s payout ratio is presently 25.86%.
Apple declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 30th that permits the company to buyback $75.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $217.47, for a total transaction of $951,648.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $214.02, for a total value of $3,745,350.00. Following the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. Insiders sold a total of 39,376 shares of company stock valued at $8,226,574 in the last quarter. 0.05% of the stock is currently owned by company insiders.
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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