Aviance Capital Management LLC Sells 1,946 Shares of Apple Inc. (AAPL)

Aviance Capital Management LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 20.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,430 shares of the iPhone maker’s stock after selling 1,946 shares during the period. Aviance Capital Management LLC’s holdings in Apple were worth $1,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Delphi Private Advisors LLC acquired a new position in shares of Apple in the 2nd quarter valued at $120,000. Quattro Financial Advisors LLC acquired a new position in shares of Apple in the 1st quarter valued at $133,000. CX Institutional acquired a new position in shares of Apple in the 2nd quarter valued at $135,000. Gainplan LLC acquired a new position in shares of Apple in the 1st quarter valued at $200,000. Finally, Chessman Wealth Strategies RIA acquired a new position in shares of Apple in the 1st quarter valued at $205,000. 57.14% of the stock is currently owned by institutional investors.

In other news, insider Chris Kondo sold 3,408 shares of the stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $190.00, for a total value of $647,520.00. Following the transaction, the insider now owns 8,940 shares in the company, valued at approximately $1,698,600. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Angela J. Ahrendts sold 25,000 shares of the stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $232.66, for a total value of $5,816,500.00. Following the completion of the transaction, the senior vice president now owns 105,538 shares in the company, valued at approximately $24,554,471.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 204,845 shares of company stock worth $47,015,677. Company insiders own 0.08% of the company’s stock.

AAPL has been the topic of several recent analyst reports. UBS Group initiated coverage on Apple in a research note on Wednesday, September 12th. Maxim Group increased their target price on Apple to $221.00 and gave the stock an “average” rating in a research note on Thursday, September 13th. Royal Bank of Canada increased their target price on Apple to $250.00 and gave the stock an “average” rating in a research note on Wednesday, September 26th. Tigress Financial reissued a “buy” rating on shares of Apple in a research note on Thursday, August 30th. Finally, HSBC set a $205.00 target price on Apple and gave the stock a “buy” rating in a research note on Thursday, August 30th. Four analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and twenty-four have given a buy rating to the company. Apple presently has a consensus rating of “Hold” and a consensus target price of $219.95.

AAPL opened at $168.49 on Friday. Apple Inc. has a one year low of $150.24 and a one year high of $233.47. The stock has a market capitalization of $868.46 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. The company has a current ratio of 1.12, a quick ratio of 1.09 and a debt-to-equity ratio of 0.87.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, November 1st. The iPhone maker reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.13. Apple had a return on equity of 48.68% and a net margin of 22.41%. The business had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. During the same quarter in the prior year, the business posted $2.07 EPS. The business’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, research analysts expect that Apple Inc. will post 13.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Monday, November 12th were issued a $0.73 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.73%. Apple’s payout ratio is currently 24.52%.

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About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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