FundX Investment Group LLC Has $426,000 Holdings in Apple Inc. (AAPL)
FundX Investment Group LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 53.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,303 shares of the iPhone maker’s stock after selling 2,660 shares during the quarter. Apple makes up approximately 0.2% of FundX Investment Group LLC’s investment portfolio, making the stock its 29th largest position. FundX Investment Group LLC’s holdings in Apple were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of the business. Ferguson Wellman Capital Management Inc. lifted its stake in Apple by 18.5% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 438,663 shares of the iPhone maker’s stock worth $81,201,000 after acquiring an additional 68,367 shares in the last quarter. Modera Wealth Management LLC raised its position in Apple by 14.3% in the 2nd quarter. Modera Wealth Management LLC now owns 19,278 shares of the iPhone maker’s stock valued at $3,569,000 after purchasing an additional 2,406 shares in the last quarter. Sawtooth Solutions LLC raised its position in Apple by 39.9% in the 2nd quarter. Sawtooth Solutions LLC now owns 22,992 shares of the iPhone maker’s stock valued at $4,256,000 after purchasing an additional 6,557 shares in the last quarter. Aviance Capital Partners LLC raised its position in Apple by 5.5% in the 2nd quarter. Aviance Capital Partners LLC now owns 170,071 shares of the iPhone maker’s stock valued at $31,481,000 after purchasing an additional 8,885 shares in the last quarter. Finally, Tibra Equities Europe Ltd acquired a new stake in Apple in the 2nd quarter valued at about $55,589,000. Institutional investors own 57.14% of the company’s stock.
In other Apple news, insider Chris Kondo sold 3,408 shares of the stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $190.00, for a total transaction of $647,520.00. Following the completion of the sale, the insider now directly owns 8,940 shares of the company’s stock, valued at approximately $1,698,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Angela J. Ahrendts sold 14,194 shares of the stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $227.96, for a total value of $3,235,664.24. Following the sale, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,058,442.48. The disclosure for this sale can be found here. Insiders have sold a total of 204,845 shares of company stock worth $47,015,677 in the last 90 days. 0.08% of the stock is currently owned by company insiders.
Apple (NASDAQ:AAPL) last released its quarterly earnings results on Thursday, November 1st. The iPhone maker reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.78 by $0.13. The firm had revenue of $62.90 billion for the quarter, compared to the consensus estimate of $61.55 billion. Apple had a return on equity of 48.68% and a net margin of 22.41%. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. On average, research analysts expect that Apple Inc. will post 13.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, November 12th were paid a dividend of $0.73 per share. The ex-dividend date was Thursday, November 8th. This represents a $2.92 dividend on an annualized basis and a yield of 1.67%. Apple’s dividend payout ratio is presently 24.52%.
AAPL has been the topic of a number of analyst reports. Tigress Financial reaffirmed a “buy” rating on shares of Apple in a research report on Thursday, August 30th. Robert W. Baird set a $230.00 price target on Apple and gave the company a “buy” rating in a research report on Tuesday, September 4th. New Street Research reaffirmed a “sell” rating on shares of Apple in a research report on Tuesday, September 18th. Needham & Company LLC increased their price target on Apple from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 13th. Finally, Citigroup reduced their price target on Apple from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Four investment 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’s stock. Apple has a consensus rating of “Hold” and a consensus price target of $219.67.
Apple Company Profile
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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