Cypress Capital Group Sells 1,247 Shares of Apple Inc. $AAPL

Cypress Capital Group reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 198,975 shares of the iPhone maker’s stock after selling 1,247 shares during the quarter. Apple makes up 5.1% of Cypress Capital Group’s portfolio, making the stock its 2nd biggest holding. Cypress Capital Group’s holdings in Apple were worth $40,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Avid Wealth Partners LLC raised its holdings in Apple by 28.3% in the first quarter. Avid Wealth Partners LLC now owns 4,211 shares of the iPhone maker’s stock valued at $935,000 after acquiring an additional 930 shares in the last quarter. Bell & Brown Wealth Advisors LLC increased its position in shares of Apple by 0.4% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 62,001 shares of the iPhone maker’s stock valued at $13,772,000 after purchasing an additional 240 shares during the last quarter. American National Bank & Trust raised its holdings in shares of Apple by 2.4% in the 2nd quarter. American National Bank & Trust now owns 195,482 shares of the iPhone maker’s stock valued at $40,107,000 after purchasing an additional 4,543 shares in the last quarter. Andina Capital Management LLC lifted its position in shares of Apple by 209.2% during the 1st quarter. Andina Capital Management LLC now owns 6,786 shares of the iPhone maker’s stock worth $1,507,000 after purchasing an additional 4,591 shares during the last quarter. Finally, Plum Street Advisors LLC grew its stake in shares of Apple by 4.0% during the first quarter. Plum Street Advisors LLC now owns 7,889 shares of the iPhone maker’s stock worth $1,752,000 after purchasing an additional 301 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of AAPL stock opened at $268.47 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The stock has a 50 day simple moving average of $252.25 and a 200-day simple moving average of $224.85. The company has a market cap of $3.97 trillion, a price-to-earnings ratio of 40.74, a price-to-earnings-growth ratio of 2.62 and a beta of 1.09. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $277.32.

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

Apple Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating on shares of Apple in a report on Tuesday, October 21st. DZ Bank raised Apple from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Tuesday, November 4th. Robert W. Baird set a $300.00 target price on Apple in a research report on Friday, October 31st. Cowen reissued a “buy” rating on shares of Apple in a research report on Monday, October 27th. Finally, Rosenblatt Securities raised their price target on Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $278.22.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of the company’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 sale, the senior vice president owned 179,158 shares of the company’s stock, valued at $46,005,982.82. This represents a 20.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevan Parekh sold 4,199 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 224,300 shares of company stock worth $57,586,933. 0.06% of the stock is currently owned by insiders.

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.