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Horizon Investments LLC Sells 683 Shares of Apple Inc. (NASDAQ:AAPL)

Horizon Investments LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,537 shares of the iPhone maker’s stock after selling 683 shares during the quarter. Horizon Investments LLC’s holdings in Apple were worth $2,883,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cardinal Capital Management Inc. lifted its holdings in Apple by 5,525.0% during the first quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock worth $39,000 after acquiring an additional 221 shares during the period. Shore Point Advisors LLC bought a new stake in Apple during the fourth quarter worth $41,000. HBC Financial Services PLLC lifted its holdings in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after acquiring an additional 80 shares during the period. Emerson Wealth LLC raised its stake in shares of Apple by 363.6% in the first quarter. Emerson Wealth LLC now owns 408 shares of the iPhone maker’s stock valued at $71,000 after buying an additional 320 shares during the period. Finally, Econ Financial Services Corp raised its stake in shares of Apple by 29.1% in the first quarter. Econ Financial Services Corp now owns 421 shares of the iPhone maker’s stock valued at $74,000 after buying an additional 95 shares during the period. 57.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. set a $200.00 target price on Apple in a research note on Tuesday, September 6th. Citigroup boosted their target price on Apple from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, July 29th. Bank of America lowered their target price on Apple from $200.00 to $185.00 in a research note on Tuesday, July 26th. Oppenheimer restated an “outperform” rating and issued a $190.00 target price on shares of Apple in a research note on Wednesday, June 8th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $139.00 target price on shares of Apple in a research note on Thursday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $181.31.

Apple Price Performance

AAPL opened at $157.37 on Friday. The stock has a 50-day moving average price of $158.47 and a 200-day moving average price of $156.34. Apple Inc. has a 12-month low of $129.04 and a 12-month high of $182.94. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $2.53 trillion, a P/E ratio of 25.97, a PEG ratio of 2.00 and a beta of 1.23.

Apple (NASDAQ:AAPLGet Rating) last released its earnings results on Thursday, July 28th. The iPhone maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Apple had a return on equity of 152.97% and a net margin of 25.71%. The company had revenue of $82.96 billion during the quarter, compared to analyst estimates of $82.97 billion. During the same quarter in the previous year, the company posted $1.30 EPS. Apple’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts predict that Apple Inc. will post 6.11 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Monday, August 8th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Friday, August 5th. Apple’s dividend payout ratio (DPR) is presently 15.18%.

Insider Activity

In other news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Luca Maestri sold 96,735 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $174.95, for a total value of $16,923,788.25. Following the completion of the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $19,362,241.35. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Katherine L. Adams sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $164.77, for a total value of $4,119,250.00. Following the transaction, the senior vice president now directly owns 427,334 shares of the company’s stock, valued at approximately $70,411,823.18. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

About Apple

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

Further Reading

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