Montgomery Investment Management Inc. Sells 700 Shares of Apple Inc. (NASDAQ:AAPL)

Montgomery Investment Management Inc. lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 17,700 shares of the iPhone maker’s stock after selling 700 shares during the period. Apple accounts for approximately 1.5% of Montgomery Investment Management Inc.’s holdings, making the stock its 19th largest position. Montgomery Investment Management Inc.’s holdings in Apple were worth $3,504,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of AAPL. Roanoke Asset Management Corp NY boosted its holdings in shares of Apple by 1.1% during the second quarter. Roanoke Asset Management Corp NY now owns 4,412 shares of the iPhone maker’s stock worth $873,000 after acquiring an additional 50 shares during the period. Monument Capital Management boosted its stake in shares of Apple by 2.2% in the second quarter. Monument Capital Management now owns 2,438 shares of the iPhone maker’s stock valued at $491,000 after buying an additional 53 shares during the period. Landmark Financial Advisors LLC boosted its stake in shares of Apple by 0.7% in the second quarter. Landmark Financial Advisors LLC now owns 7,357 shares of the iPhone maker’s stock valued at $1,456,000 after buying an additional 53 shares during the period. MA Private Wealth boosted its stake in shares of Apple by 0.3% in the second quarter. MA Private Wealth now owns 16,134 shares of the iPhone maker’s stock valued at $3,193,000 after buying an additional 56 shares during the period. Finally, Timber Creek Capital Management LLC boosted its stake in shares of Apple by 0.3% in the second quarter. Timber Creek Capital Management LLC now owns 16,839 shares of the iPhone maker’s stock valued at $3,332,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 59.21% of the company’s stock.

AAPL has been the subject of several recent research reports. Credit Suisse Group set a $209.00 price target on Apple and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Cascend Securities reiterated a “buy” rating and issued a $240.00 price target (up from $210.00) on shares of Apple in a research note on Thursday, June 20th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $265.00 price target (up from $245.00) on shares of Apple in a research note on Wednesday, July 31st. Daiwa Capital Markets set a $223.00 price target on Apple and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Raymond James upgraded Apple from a “market perform” rating to an “outperform” rating and set a $250.00 price target for the company in a research note on Thursday, July 18th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Apple has a consensus rating of “Hold” and an average target price of $217.25.

AAPL traded up $4.57 during trading on Thursday, hitting $213.76. 3,955,949 shares of the stock traded hands, compared to its average volume of 26,023,408. Apple Inc. has a twelve month low of $142.00 and a twelve month high of $233.47. The company has a market cap of $929.60 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.71 and a beta of 1.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. The business has a 50 day moving average price of $205.77 and a 200 day moving average price of $194.96.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 business had revenue of $53.81 billion during the quarter, compared to the consensus estimate of $53.39 billion. During the same period in the previous year, the business earned $2.34 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. On average, equities research analysts predict that Apple Inc. will post 11.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.77 per share. The ex-dividend date was Friday, August 9th. This represents a $3.08 annualized dividend and a dividend yield of 1.44%. Apple’s dividend payout ratio (DPR) is presently 25.86%.

In other news, insider Chris Kondo sold 4,376 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $217.47, for a total transaction of $951,648.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the transaction, the director now owns 1,150,783 shares of the company’s stock, valued at $232,101,423.27. The disclosure for this sale can be found here. Insiders have sold 304,536 shares of company stock valued at $62,894,611 over the last quarter. Company insiders own 0.05% of the company’s stock.

Apple Company 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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