Level Four Advisory Services LLC Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Level Four Advisory Services LLC cut its holdings in Apple Inc. (NASDAQ:AAPL) by 3.7% during the 2nd quarter, Holdings Channel reports. The firm owned 404,814 shares of the iPhone maker’s stock after selling 15,633 shares during the period. Apple makes up approximately 3.8% of Level Four Advisory Services LLC’s investment portfolio, making the stock its 2nd biggest position. Level Four Advisory Services LLC’s holdings in Apple were worth $55,443,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC boosted its position in Apple by 24.8% during the 2nd quarter. Opal Wealth Advisors LLC now owns 26,021 shares of the iPhone maker’s stock valued at $3,564,000 after acquiring an additional 5,177 shares in the last quarter. Budros Ruhlin & Roe Inc. lifted its holdings in shares of Apple by 4.8% during the first quarter. Budros Ruhlin & Roe Inc. now owns 170,753 shares of the iPhone maker’s stock valued at $20,858,000 after purchasing an additional 7,761 shares during the last quarter. SPC Financial Inc. lifted its holdings in shares of Apple by 135.1% during the second quarter. SPC Financial Inc. now owns 37,990 shares of the iPhone maker’s stock valued at $5,203,000 after purchasing an additional 21,830 shares during the last quarter. United Fire Group Inc. purchased a new position in shares of Apple during the second quarter valued at approximately $4,931,000. Finally, Fernwood Investment Management LLC lifted its holdings in shares of Apple by 1.9% during the second quarter. Fernwood Investment Management LLC now owns 65,432 shares of the iPhone maker’s stock valued at $8,962,000 after purchasing an additional 1,201 shares during the last quarter. 56.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of Apple stock opened at $148.12 on Wednesday. The company has a market capitalization of $2.45 trillion, a P/E ratio of 28.99, a P/E/G ratio of 2.10 and a beta of 1.20. 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 fifty day moving average of $148.32 and a 200 day moving average of $135.13. Apple Inc. has a fifty-two week low of $103.10 and a fifty-two week high of $157.26.

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

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

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

AAPL has been the subject of several recent research reports. Robert W. Baird upgraded shares of Apple to an “outperform” rating and lifted their target price for the company from $160.00 to $170.00 in a report on Wednesday, September 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Apple from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. UBS Group set a $175.00 price objective on shares of Apple in a report on Monday. Fundamental Research boosted their price objective on shares of Apple from $144.27 to $163.99 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Finally, Barclays boosted their price objective on shares of Apple from $134.00 to $142.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 28th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $160.88.

Apple Profile

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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