Cutter & CO Brokerage Inc. Sells 790 Shares of Apple Inc. (NASDAQ:AAPL)

Cutter & CO Brokerage Inc. lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,021 shares of the iPhone maker’s stock after selling 790 shares during the period. Apple accounts for about 2.1% of Cutter & CO Brokerage Inc.’s portfolio, making the stock its 9th largest position. Cutter & CO Brokerage Inc.’s holdings in Apple were worth $7,181,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Parker Financial LLC lifted its position in Apple by 1.2% in the 2nd quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock valued at $881,000 after acquiring an additional 54 shares in the last quarter. MKT Advisors LLC lifted its position in Apple by 0.5% in the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after acquiring an additional 60 shares in the last quarter. Professional Financial Advisors LLC lifted its position in Apple by 0.5% during the 2nd quarter. Professional Financial Advisors LLC now owns 13,213 shares of the iPhone maker’s stock worth $2,563,000 after buying an additional 62 shares in the last quarter. Aspire Capital Advisors LLC lifted its position in Apple by 0.5% during the 1st quarter. Aspire Capital Advisors LLC now owns 14,076 shares of the iPhone maker’s stock worth $2,321,000 after buying an additional 64 shares in the last quarter. Finally, Legacy Financial Group LLC lifted its position in Apple by 0.6% during the 2nd quarter. Legacy Financial Group LLC now owns 10,949 shares of the iPhone maker’s stock worth $2,124,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 58.51% of the company’s stock.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 240,569 shares of Apple stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $172.50, for a total value of $41,498,152.50. Following the transaction, the chief executive officer now owns 3,280,053 shares in the company, valued at $565,809,142.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 123,448 shares of Apple stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $188.79, for a total value of $23,305,747.92. Following the completion of the transaction, the senior vice president now owns 293,266 shares in the company, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 567,839 shares of company stock worth $100,675,794. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AAPL shares. Raymond James boosted their price target on shares of Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Evercore ISI reissued an “outperform” rating and set a $210.00 price target on shares of Apple in a research report on Thursday, September 28th. Morgan Stanley reissued an “overweight” rating and set a $210.00 price target on shares of Apple in a research report on Friday, November 3rd. Wells Fargo & Company boosted their price target on shares of Apple from $210.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Finally, Oppenheimer dropped their target price on shares of Apple from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $198.25.

Apple Stock Up 0.9 %

Shares of NASDAQ AAPL opened at $191.45 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.94 and a current ratio of 0.99. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The stock has a market capitalization of $2.98 trillion, a P/E ratio of 31.28, a PEG ratio of 2.60 and a beta of 1.30. The stock’s fifty day moving average is $177.15 and its 200 day moving average is $181.03.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Apple had a return on equity of 160.78% and a net margin of 25.31%. The company had revenue of $89.50 billion for the quarter, compared to analysts’ expectations of $89.34 billion. During the same quarter last year, the business earned $1.29 earnings per share. Apple’s revenue was down .7% on a year-over-year basis. Sell-side analysts forecast that Apple Inc. will post 6.56 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Monday, November 13th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Friday, November 10th. Apple’s payout ratio is currently 15.69%.

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.