Apple Inc. $AAPL Shares Sold by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 490,987 shares of the iPhone maker’s stock after selling 4,235 shares during the period. Apple makes up about 5.0% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Reynders McVeigh Capital Management LLC’s holdings in Apple were worth $100,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Baker Boyer National Bank raised its holdings in shares of Apple by 0.3% in the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after buying an additional 47 shares in the last quarter. Beddow Capital Management Inc. boosted its stake in Apple by 1.8% in the 2nd quarter. Beddow Capital Management Inc. now owns 2,597 shares of the iPhone maker’s stock valued at $533,000 after buying an additional 47 shares in the last quarter. Red Tortoise LLC grew its position in Apple by 0.9% in the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after acquiring an additional 49 shares during the period. SigFig Wealth Management LLC raised its stake in Apple by 2.8% during the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after acquiring an additional 50 shares in the last quarter. Finally, Shariaportfolio Inc. lifted its holdings in shares of Apple by 1.3% during the second quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock valued at $820,000 after acquiring an additional 50 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 1.5%

NASDAQ:AAPL opened at $274.11 on Tuesday. The stock’s fifty day moving average price is $268.59 and its two-hundred day moving average price is $237.81. Apple Inc. has a 52-week low of $169.21 and a 52-week high of $288.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.86 and a current ratio of 0.89. The company has a market cap of $4.05 trillion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 2.60 and a beta of 1.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. The company had revenue of $102.47 billion during the quarter, compared to analysts’ expectations of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm earned $1.64 EPS. On average, analysts anticipate that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s payout ratio is currently 13.92%.

Insider Activity at Apple

In other news, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 129,963 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.81, for a total transaction of $33,375,798.03. Following the sale, the chief executive officer owned 3,280,295 shares of the company’s stock, valued at approximately $842,412,558.95. This represents a 3.81% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 228,052 shares of company stock worth $58,604,588. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the topic of several analyst reports. DA Davidson upped their target price on shares of Apple from $250.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Bank of America upped their price objective on shares of Apple from $270.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley lifted their target price on shares of Apple from $298.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Phillip Securities downgraded Apple from a “hold” rating to a “moderate sell” rating and set a $200.00 target price on the stock. in a report on Thursday, September 11th. Finally, DZ Bank raised Apple from a “hold” rating to a “buy” rating and set a $300.00 price target for the company in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Apple has a consensus rating of “Moderate Buy” and an average target price of $282.51.

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.