Skylands Capital LLC Sells 10,705 Shares of Apple Inc. (NASDAQ:AAPL)

Skylands Capital LLC cut its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 345,195 shares of the iPhone maker’s stock after selling 10,705 shares during the period. Apple accounts for 7.3% of Skylands Capital LLC’s holdings, making the stock its 2nd largest position. Skylands Capital LLC’s holdings in Apple were worth $60,274,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Cardinal Capital Management Inc. lifted its position in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new position in Apple during the fourth quarter worth approximately $41,000. St. James Investment Advisors LLC purchased a new position in Apple during the fourth quarter worth approximately $57,000. Emerson Wealth LLC lifted its position in Apple by 363.6% during the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock worth $71,000 after buying an additional 320 shares in the last quarter. Finally, Econ Financial Services Corp lifted its position in Apple by 29.1% during the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock worth $74,000 after buying an additional 95 shares in the last quarter. 57.62% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 3.8 %

NASDAQ:AAPL opened at $163.62 on Friday. The stock has a 50-day simple moving average of $154.62 and a 200-day simple moving average of $157.14. The stock has a market cap of $2.63 trillion, a P/E ratio of 27.00, a P/E/G ratio of 2.16 and a beta of 1.23. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.82 and a current ratio of 0.86.

Apple (NASDAQ:AAPLGet Rating) last posted its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The business had revenue of $82.96 billion during the quarter, compared to the consensus estimate of $82.97 billion. During the same period in the previous year, the business earned $1.30 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 6.1 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, August 5th. Apple’s payout ratio is currently 15.18%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Itau BBA Securities assumed coverage on Apple in a research report on Tuesday, July 26th. They set an “underperform” rating and a $136.00 price objective on the stock. UBS Group set a $185.00 target price on Apple in a research report on Thursday, July 21st. Oppenheimer restated an “outperform” rating and issued a $190.00 target price on shares of Apple in a research report on Wednesday, June 8th. Rosenblatt Securities reduced their target price on Apple from $168.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Finally, Fundamental Research set a $177.07 target price on Apple and gave the company a “buy” rating in a research report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $181.18.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $164.77, for a total transaction of $4,119,250.00. Following the completion of the sale, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Luca Maestri sold 96,735 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $174.95, for a total value of $16,923,788.25. Following the sale, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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