Hexagon Capital Partners LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.9% in the second quarter, HoldingsChannel.com reports. The fund owned 80,574 shares of the iPhone maker’s stock after selling 11,932 shares during the quarter. Apple comprises about 3.1% of Hexagon Capital Partners LLC’s investment portfolio, making the stock its 4th biggest holding. Hexagon Capital Partners LLC’s holdings in Apple were worth $11,035,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. JustInvest LLC raised its position in shares of Apple by 20.9% in the second quarter. JustInvest LLC now owns 292,894 shares of the iPhone maker’s stock valued at $40,115,000 after buying an additional 50,630 shares during the last quarter. Harvest Fund Management Co. Ltd raised its position in shares of Apple by 78.5% in the second quarter. Harvest Fund Management Co. Ltd now owns 242,403 shares of the iPhone maker’s stock valued at $33,274,000 after buying an additional 106,637 shares during the last quarter. Schnieders Capital Management LLC raised its position in shares of Apple by 9.3% in the second quarter. Schnieders Capital Management LLC now owns 165,768 shares of the iPhone maker’s stock valued at $22,704,000 after buying an additional 14,052 shares during the last quarter. Lafayette Investments Inc. raised its position in shares of Apple by 29.8% in the second quarter. Lafayette Investments Inc. now owns 62,506 shares of the iPhone maker’s stock valued at $8,561,000 after buying an additional 14,346 shares during the last quarter. Finally, Greenleaf Trust raised its position in shares of Apple by 3.9% in the second quarter. Greenleaf Trust now owns 644,895 shares of the iPhone maker’s stock valued at $88,325,000 after buying an additional 24,169 shares during the last quarter. Institutional investors own 56.38% of the company’s stock.
A number of equities analysts have recently weighed in on AAPL shares. Piper Sandler boosted their price objective on shares of Apple from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Barclays set a $142.00 target price on shares of Apple in a report on Wednesday. Oppenheimer upgraded shares of Apple to an “outperform” rating and set a $165.00 target price for the company in a report on Wednesday, September 15th. UBS Group set a $175.00 target price on shares of Apple in a report on Monday, September 13th. Finally, DZ Bank restated a “buy” rating on shares of Apple in a report on Tuesday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $163.82.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Monday, July 26th. The iPhone maker reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.29. The firm had revenue of $81.40 billion for the quarter, compared to analysts’ expectations of $73.48 billion. Apple had a net margin of 25.00% and a return on equity of 131.01%. The firm’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 5.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 12th. Investors of record on Monday, August 9th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 6th. This represents a $0.88 annualized dividend and a yield of 0.60%. Apple’s dividend payout ratio is presently 26.83%.
In other Apple news, CEO Timothy D. Cook sold 2,386,440 shares of the stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $148.58, for a total transaction of $354,577,255.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 17,000 shares of the stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $145.89, for a total transaction of $2,480,130.00. Following the sale, the senior vice president now directly owns 324,164 shares in the company, valued at $47,292,285.96. The disclosure for this sale can be found here. Insiders sold 2,418,317 shares of company stock worth $359,229,278 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
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