East Coast Asset Management LLC. Has $8.03 Million Holdings in Apple Inc. (NASDAQ:AAPL)

East Coast Asset Management LLC. cut its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,976 shares of the iPhone maker’s stock after selling 359 shares during the period. Apple comprises approximately 1.9% of East Coast Asset Management LLC.’s holdings, making the stock its 11th largest holding. East Coast Asset Management LLC.’s holdings in Apple were worth $8,028,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Donald L. Hagan LLC raised its holdings in shares of Apple by 0.3% in the 1st quarter. Donald L. Hagan LLC now owns 18,220 shares of the iPhone maker’s stock worth $3,181,000 after buying an additional 61 shares in the last quarter. Goodwin Daniel L raised its holdings in shares of Apple by 0.5% in the 1st quarter. Goodwin Daniel L now owns 12,761 shares of the iPhone maker’s stock worth $2,230,000 after buying an additional 62 shares in the last quarter. Opus Capital Group LLC raised its holdings in shares of Apple by 0.3% in the 1st quarter. Opus Capital Group LLC now owns 19,081 shares of the iPhone maker’s stock worth $3,332,000 after buying an additional 63 shares in the last quarter. Norwood Financial Corp increased its holdings in Apple by 0.9% during the 1st quarter. Norwood Financial Corp now owns 7,025 shares of the iPhone maker’s stock valued at $1,227,000 after purchasing an additional 65 shares in the last quarter. Finally, Investors Research Corp increased its holdings in Apple by 0.4% during the 1st quarter. Investors Research Corp now owns 16,117 shares of the iPhone maker’s stock valued at $2,814,000 after purchasing an additional 66 shares in the last quarter. 57.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total transaction of $16,923,788.25. Following the transaction, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $19,362,241.35. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the business’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 transaction, the senior vice president now owns 427,334 shares of the company’s stock, valued at $70,411,823.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $19,362,241.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on AAPL. Evercore ISI raised their price target on Apple from $180.00 to $185.00 in a report on Friday, July 29th. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price target on shares of Apple in a report on Wednesday, June 8th. Credit Suisse Group set a $201.00 price target on Apple in a report on Thursday. Monness Crespi & Hardt began coverage on Apple in a report on Thursday. They set a “buy” rating and a $174.00 price target for the company. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $139.00 price target on shares of Apple in a report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.31.

Apple Stock Performance

AAPL opened at $157.37 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.86 and a quick ratio of 0.82. The business’s 50-day moving average price is $158.47 and its two-hundred day moving average price is $156.34. The company has a market capitalization of $2.53 trillion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 2.00 and a beta of 1.23. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. The business had revenue of $82.96 billion for the quarter, compared to the consensus estimate of $82.97 billion. Apple had a return on equity of 152.97% and a net margin of 25.71%. Apple’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. Equities analysts expect that Apple Inc. will post 6.11 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Investors of record on Monday, August 8th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio is currently 15.18%.

Apple Company Profile

(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.

Featured Stories

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.