Mackay Shields LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 32.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,472,989 shares of the iPhone maker’s stock after selling 1,179,195 shares during the quarter. Apple comprises about 3.2% of Mackay Shields LLC’s portfolio, making the stock its 3rd biggest holding. Mackay Shields LLC’s holdings in Apple were worth $338,701,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. University of Texas Texas AM Investment Managment Co. acquired a new stake in Apple in the 2nd quarter valued at about $27,000. Milestone Resources Group Ltd lifted its holdings in Apple by 57.7% in the 2nd quarter. Milestone Resources Group Ltd now owns 216 shares of the iPhone maker’s stock valued at $30,000 after acquiring an additional 79 shares during the last quarter. Pinz Capital Management LP acquired a new stake in Apple in the 1st quarter valued at about $72,000. Kessler Investment Group LLC lifted its holdings in Apple by 585.7% in the 2nd quarter. Kessler Investment Group LLC now owns 576 shares of the iPhone maker’s stock valued at $79,000 after acquiring an additional 492 shares during the last quarter. Finally, Cordant Inc. lifted its holdings in Apple by 60.0% in the 2nd quarter. Cordant Inc. now owns 805 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 302 shares during the last quarter. 56.38% of the stock is owned by institutional investors and hedge funds.
NASDAQ:AAPL traded up $2.46 during mid-day trading on Thursday, reaching $143.37. The stock had a trading volume of 1,879,628 shares, compared to its average volume of 90,397,281. The stock has a market cap of $2.37 trillion, a P/E ratio of 28.05, a PEG ratio of 2.10 and a beta of 1.20. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.06 and a quick ratio of 1.01. The business’s 50 day moving average is $147.30 and its 200 day moving average is $138.23. Apple Inc. has a fifty-two week low of $107.32 and a fifty-two week high of $157.26.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Monday, August 9th were given a $0.22 dividend. The ex-dividend date was Friday, August 6th. This represents a $0.88 annualized dividend and a dividend yield of 0.61%. Apple’s dividend payout ratio is 26.83%.
In related news, CEO Timothy D. Cook sold 2,386,440 shares of the firm’s stock in a transaction on Wednesday, August 25th. The stock was sold at an average price of $148.58, for a total value of $354,577,255.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 14,877 shares of the firm’s stock in a transaction on Friday, August 6th. The stock was sold at an average price of $145.99, for a total value of $2,171,893.23. The disclosure for this sale can be found here. Insiders sold 2,673,583 shares of company stock valued at $394,667,857 over the last three months. 0.06% of the stock is owned by company insiders.
A number of brokerages have weighed in on AAPL. Wedbush reissued a “buy” rating and issued a $185.00 price target on shares of Apple in a report on Friday, September 3rd. JPMorgan Chase & Co. set a $180.00 price objective on Apple in a report on Wednesday, October 6th. Piper Sandler boosted their price objective on Apple from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Barclays set a $142.00 price objective on Apple in a report on Wednesday, September 22nd. Finally, Evercore ISI upgraded Apple to a “buy” rating and set a $180.00 price objective on the stock in a report on Friday, September 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has a consensus rating of “Buy” and a consensus target price of $164.41.
Apple Company 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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