PARK CIRCLE Co Reduces Stock Holdings in Apple Inc. (NASDAQ:AAPL)

PARK CIRCLE Co lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 44.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,900 shares of the iPhone maker’s stock after selling 8,900 shares during the quarter. Apple accounts for about 1.7% of PARK CIRCLE Co’s holdings, making the stock its 13th biggest holding. PARK CIRCLE Co’s holdings in Apple were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new position in Apple during the first quarter worth about $35,000. Fidelis Capital Partners LLC boosted its stake in Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after buying an additional 31,278 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Apple during the fourth quarter worth about $39,000. Gilfoyle & Co LLC lifted its position in shares of Apple by 118.0% during the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. Finally, University of Texas Texas AM Investment Managment Co. lifted its position in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Insider Transactions at Apple

In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Katherine L. Adams sold 100,000 shares of Apple stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the completion of the transaction, the senior vice president now owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arthur D. Levinson sold 75,000 shares of Apple stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $191.58, for a total value of $14,368,500.00. Following the transaction, the director now directly owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders sold 179,999 shares of company stock valued at $35,964,310 in the last 90 days. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AAPL. Sanford C. Bernstein increased their price target on shares of Apple from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. TD Cowen increased their price target on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Monday, August 5th. Finally, Piper Sandler raised their target price on shares of Apple from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $234.29.

Apple Price Performance

Shares of NASDAQ AAPL opened at $217.53 on Tuesday. The firm has a market capitalization of $3.34 trillion, a P/E ratio of 33.83, a PEG ratio of 2.60 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.23. The company’s fifty day moving average is $216.27 and its two-hundred day moving average is $192.16. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.04.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The company had revenue of $85.78 billion for the quarter, compared to analyst estimates of $84.43 billion. Apple had a net margin of 26.44% and a return on equity of 145.35%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. Analysts forecast that Apple Inc. will post 6.61 EPS for the current fiscal year.

Apple declared that its board has initiated a stock repurchase program on Thursday, May 2nd that permits the company to buyback $110.00 billion in shares. This buyback authorization permits the iPhone maker to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 12th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, August 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.46%. Apple’s payout ratio is currently 15.55%.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.