Apple Inc. $AAPL Stock Position Lessened by Csenge Advisory Group

Csenge Advisory Group cut its stake in Apple Inc. (NASDAQ:AAPL) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,729 shares of the iPhone maker’s stock after selling 3,359 shares during the quarter. Apple accounts for about 1.8% of Csenge Advisory Group’s investment portfolio, making the stock its 8th largest holding. Csenge Advisory Group’s holdings in Apple were worth $34,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AAPL. Baker Boyer National Bank boosted its stake in shares of Apple by 0.3% in the 2nd quarter. Baker Boyer National Bank now owns 18,011 shares of the iPhone maker’s stock worth $3,695,000 after buying an additional 47 shares during the last quarter. Salus Financial Advisors LLC boosted its position in Apple by 3.9% in the first quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock worth $291,000 after purchasing an additional 49 shares during the last quarter. Red Tortoise LLC grew its stake in shares of Apple by 0.9% during the 2nd quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock valued at $1,173,000 after purchasing an additional 49 shares during the period. SigFig Wealth Management LLC increased its position in shares of Apple by 2.8% during the 2nd quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock valued at $368,000 after purchasing an additional 50 shares during the last quarter. Finally, Shariaportfolio Inc. lifted its stake in shares of Apple by 1.3% in the 2nd quarter. Shariaportfolio Inc. now owns 3,999 shares of the iPhone maker’s stock worth $820,000 after purchasing an additional 50 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Apple from $220.00 to $280.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Rosenblatt Securities boosted their price objective on shares of Apple from $241.00 to $250.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Cowen restated a “buy” rating on shares of Apple in a research note on Monday, October 27th. Jefferies Financial Group upgraded Apple from an “underperform” rating to a “hold” rating and lifted their target price for the company from $203.07 to $246.99 in a research report on Friday, October 31st. Finally, Argus set a $325.00 price target on Apple and gave the company a “buy” rating in a report on Friday, October 31st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $278.53.

Apple Price Performance

NASDAQ:AAPL opened at $284.15 on Thursday. The business’s 50-day simple moving average is $265.09 and its two-hundred day simple moving average is $233.25. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $288.62. The stock has a market cap of $4.20 trillion, a PE ratio of 38.04, a P/E/G ratio of 2.64 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Apple had a return on equity of 164.05% and a net margin of 26.92%.The firm had revenue of $102.47 billion during the quarter, compared to analyst estimates of $101.65 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Monday, November 10th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Apple’s dividend payout ratio (DPR) is 13.92%.

Insider Buying and Selling at Apple

In other news, CFO Kevan Parekh sold 4,199 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total value of $1,038,790.61. Following the transaction, the chief financial officer owned 8,765 shares of the company’s stock, valued at approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 3,752 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the transaction, the insider owned 15,098 shares of the company’s stock, valued at approximately $4,095,030.54. This represents a 19.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 228,052 shares of company stock worth $58,604,588. Insiders own 0.06% of the company’s stock.

About Apple

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.