Apple Inc. $AAPL Shares Sold by Suncoast Equity Management

Suncoast Equity Management trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 172,599 shares of the iPhone maker’s stock after selling 9,892 shares during the period. Apple accounts for approximately 3.6% of Suncoast Equity Management’s holdings, making the stock its 12th biggest position. Suncoast Equity Management’s holdings in Apple were worth $35,412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sienna Gestion raised its holdings in shares of Apple by 7.4% during the second quarter. Sienna Gestion now owns 417,772 shares of the iPhone maker’s stock valued at $78,256,000 after buying an additional 28,639 shares during the last quarter. Andra AP fonden grew its holdings in Apple by 17.8% in the 2nd quarter. Andra AP fonden now owns 790,500 shares of the iPhone maker’s stock worth $162,187,000 after buying an additional 119,300 shares in the last quarter. Horan Securities Inc. increased its position in Apple by 1.5% in the 2nd quarter. Horan Securities Inc. now owns 22,278 shares of the iPhone maker’s stock valued at $4,571,000 after acquiring an additional 332 shares during the period. Graphene Investments SAS raised its stake in Apple by 19.0% during the 2nd quarter. Graphene Investments SAS now owns 29,400 shares of the iPhone maker’s stock valued at $6,032,000 after acquiring an additional 4,700 shares in the last quarter. Finally, Stone House Investment Management LLC boosted its position in Apple by 3.5% during the 2nd quarter. Stone House Investment Management LLC now owns 6,963 shares of the iPhone maker’s stock worth $1,429,000 after acquiring an additional 234 shares during the period. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $269.77 on Friday. The company has a 50-day moving average of $251.53 and a 200-day moving average of $224.02. The firm has a market cap of $4.00 trillion, a price-to-earnings ratio of 40.94, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a twelve month low of $169.21 and a twelve month high of $277.32.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 30th. The iPhone maker reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a net margin of 24.30% and a return on equity of 170.91%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.64 EPS. Analysts forecast that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Monday, November 10th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, November 10th. Apple’s dividend payout ratio is 13.92%.

Insider Buying and Selling

In related news, SVP Deirdre O’brien sold 43,013 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This represents a 20.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 224,300 shares of company stock valued at $57,586,933. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America raised their price target on Apple from $270.00 to $320.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. CLSA upgraded shares of Apple to a “strong-buy” rating in a research report on Sunday, October 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Apple in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Apple from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Tigress Financial increased their price objective on shares of Apple from $300.00 to $305.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 17th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.22.

Apple Company 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.