MONECO Advisors LLC Trims Position in Apple Inc. (NASDAQ:AAPL)

MONECO Advisors LLC decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 10.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,657 shares of the iPhone maker’s stock after selling 2,372 shares during the period. Apple comprises about 3.1% of MONECO Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. MONECO Advisors LLC’s holdings in Apple were worth $3,890,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AAPL. Thoroughbred Financial Services LLC lifted its position in shares of Apple by 19,949.3% during the second quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock worth $1,005,513,000 after purchasing an additional 10,004,976 shares during the last quarter. H&H International Investment LLC raised its stake in Apple by 16.5% during the second quarter. H&H International Investment LLC now owns 3,877,900 shares of the iPhone maker’s stock worth $785,333,000 after acquiring an additional 550,300 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Apple by 57.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 1,235,798 shares of the iPhone maker’s stock worth $170,524,000 after acquiring an additional 450,098 shares during the period. Fisher Asset Management LLC raised its stake in Apple by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,766,487 shares of the iPhone maker’s stock worth $2,013,786,000 after acquiring an additional 417,421 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its stake in Apple by 4.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 10,155,585 shares of the iPhone maker’s stock worth $1,929,054,000 after acquiring an additional 414,856 shares during the period. 59.67% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Chris Kondo sold 4,376 shares of the firm’s stock in a transaction that occurred on 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 SEC, which is available at this link. Also, Director Arthur D. Levinson sold 17,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $214.02, for a total transaction of $3,745,350.00. Following the transaction, the director now owns 1,150,783 shares in the company, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.

Shares of NASDAQ:AAPL opened at $208.97 on Wednesday. The company has a 50 day moving average price of $203.54. Apple Inc. has a 52 week low of $142.00 and a 52 week high of $233.47. The firm has a market capitalization of $908.31 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 1.69 and a beta of 1.25. The company has a quick ratio of 1.47, a current ratio of 1.50 and a debt-to-equity ratio of 0.88.

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

Apple declared that its board has approved a share buyback plan on Tuesday, April 30th that authorizes the company to buyback $75.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to buy up to 7.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, August 12th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, August 9th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.47%. Apple’s dividend payout ratio is presently 25.86%.

Several equities research analysts recently weighed in on AAPL shares. Evercore ISI started coverage on shares of Apple in a research note on Thursday, June 6th. They set an “outperform” rating and a $205.00 price objective on the stock. HSBC set a $174.00 price objective on shares of Apple and gave the stock a “sell” rating in a research note on Monday, May 20th. ValuEngine lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. BTIG Research increased their price objective on shares of Apple to $234.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Wedbush reiterated an “outperform” rating on shares of Apple in a research note on Tuesday. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $217.12.

Apple Profile

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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