Apple Inc. (NASDAQ:AAPL) Shares Sold by Commerce Bank

Commerce Bank cut its stake in Apple Inc. (NASDAQ:AAPL) by 0.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,428,711 shares of the iPhone maker’s stock after selling 12,623 shares during the quarter. Apple comprises approximately 4.3% of Commerce Bank’s investment portfolio, making the stock its biggest position. Commerce Bank’s holdings in Apple were worth $606,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OLD Mission Capital LLC acquired a new position in shares of Apple during the 3rd quarter worth $1,238,000. Atlas Private Wealth Management raised its holdings in shares of Apple by 0.8% during the 1st quarter. Atlas Private Wealth Management now owns 51,756 shares of the iPhone maker’s stock worth $6,322,000 after buying an additional 396 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Apple by 2.5% during the 1st quarter. Fisher Asset Management LLC now owns 62,813,919 shares of the iPhone maker’s stock worth $7,672,720,000 after buying an additional 1,538,571 shares in the last quarter. Red Door Wealth Management LLC raised its holdings in shares of Apple by 3.0% during the 1st quarter. Red Door Wealth Management LLC now owns 82,310 shares of the iPhone maker’s stock worth $10,089,000 after buying an additional 2,372 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in shares of Apple by 5.4% during the 1st quarter. Stratos Wealth Advisors LLC now owns 134,781 shares of the iPhone maker’s stock worth $16,464,000 after buying an additional 6,921 shares in the last quarter. 56.38% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Katherine L. Adams sold 17,000 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $145.89, for a total value of $2,480,130.00. Following the completion of the transaction, the senior vice president now directly owns 324,164 shares of the company’s stock, valued at $47,292,285.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 14,877 shares of the company’s stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $145.99, for a total value of $2,171,893.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,418,317 shares of company stock valued at $359,229,278. Company insiders own 0.06% of the company’s stock.

A number of equities analysts have recently commented on AAPL shares. DA Davidson boosted their price target on Apple from $167.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Fundamental Research boosted their price objective on Apple from $144.27 to $163.99 and gave the stock a “buy” rating in a research report on Tuesday, August 31st. Morgan Stanley boosted their price objective on Apple from $166.00 to $168.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Robert W. Baird upgraded Apple to an “outperform” rating and boosted their price objective for the stock from $160.00 to $170.00 in a research report on Wednesday, September 8th. Finally, Sanford C. Bernstein restated a “hold” rating and set a $132.00 price objective on shares of Apple in a research report on Tuesday, August 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat, Apple presently has a consensus rating of “Buy” and a consensus price target of $160.88.

AAPL stock opened at $148.12 on Wednesday. The stock’s 50 day simple moving average is $148.32 and its 200 day simple moving average is $135.13. Apple Inc. has a fifty-two week low of $103.10 and a fifty-two week high of $157.26. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.01 and a current ratio of 1.06. The company has a market cap of $2.45 trillion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Monday, July 26th. The iPhone maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.29. Apple had a return on equity of 131.01% and a net margin of 25.00%. The business had revenue of $81.40 billion for the quarter, compared to the consensus estimate of $73.48 billion. During the same period in the prior year, the business earned $0.64 EPS. The firm’s revenue for the quarter was up 36.4% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 5.59 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Monday, August 9th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Friday, August 6th. Apple’s dividend payout ratio (DPR) is presently 26.83%.

About Apple

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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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