Columbia Asset Management Has $42.73 Million Stake in Apple Inc. $AAPL

Columbia Asset Management lessened its stake in Apple Inc. (NASDAQ:AAPL) by 58.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 208,272 shares of the iPhone maker’s stock after selling 290,020 shares during the period. Apple comprises about 8.4% of Columbia Asset Management’s investment portfolio, making the stock its 2nd largest position. Columbia Asset Management’s holdings in Apple were worth $42,731,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. Ryan Investment Management Inc. bought a new stake in Apple during the second quarter valued at $31,000. ROSS JOHNSON & Associates LLC increased its stake in Apple by 1,800.0% during the first quarter. ROSS JOHNSON & Associates LLC now owns 190 shares of the iPhone maker’s stock valued at $42,000 after purchasing an additional 180 shares during the last quarter. Elite Financial Inc. acquired a new position in shares of Apple during the first quarter valued at $58,000. LSV Asset Management acquired a new position in shares of Apple during the fourth quarter valued at $65,000. Finally, HFM Investment Advisors LLC acquired a new position in shares of Apple during the first quarter valued at $99,000. Institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $252.29 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The company’s 50-day moving average price is $241.13 and its two-hundred day moving average price is $216.91. Apple Inc. has a 52 week low of $169.21 and a 52 week high of $260.10. The stock has a market cap of $3.74 trillion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a net margin of 24.30% and a return on equity of 170.91%. The firm had revenue of $94.04 billion for the quarter, compared to analysts’ expectations of $88.64 billion. During the same period in the previous year, the business earned $1.40 earnings per share. Apple’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were given a $0.26 dividend. The ex-dividend date was Monday, August 11th. This represents a $1.04 annualized dividend and a yield of 0.4%. Apple’s payout ratio is 15.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AAPL shares. Monness Crespi & Hardt boosted their price target on shares of Apple from $245.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 1st. Evercore ISI set a $290.00 price target on shares of Apple and gave the company an “outperform” rating in a report on Friday, September 26th. Rosenblatt Securities boosted their price target on shares of Apple from $223.00 to $241.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Loop Capital reduced their price target on shares of Apple from $230.00 to $226.00 and set a “hold” rating for the company in a report on Thursday, August 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $266.00 price target on shares of Apple in a report on Tuesday, August 26th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and an average price target of $248.29.

Insider Buying and Selling at Apple

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the sale, the chief executive officer directly owned 3,280,295 shares in the company, valued at approximately $842,412,558.95. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the sale, the senior vice president owned 179,158 shares in the company, valued at approximately $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 259,121 shares of company stock valued at $65,358,981 in the last ninety days. 0.06% of the stock is owned by insiders.

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.