E&G Advisors LP owns $5.45 million in Apple Inc shares. (NASDAQ:AAPL)

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E&G Advisors LP reduced its position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,863 shares of the iPhone maker’s stock after selling 534 shares during the quarter. Apple comprises approximately 1.6% of E&G Advisors LP’s investment portfolio, making the stock its 12th largest holding. E&G Advisors LP’s holdings in Apple were worth $5,447,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Yeomans Consulting Group Inc. acquired a new position in shares of Apple during the fourth quarter valued at $1,713,000. Raleigh Capital Management Inc. raised its stake in Apple by 11.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock valued at $2,986,000 after acquiring an additional 1,643 shares during the period. GLOBALT Investments LLC GA bought a new stake in Apple in the fourth quarter valued at about $38,406,000. Barden Capital Management Inc. boosted its holdings in Apple by 132.8% in the fourth quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock valued at $6,283,000 after purchasing an additional 18,615 shares in the last quarter. Finally, Sunpointe LLC bought a new stake in Apple in the fourth quarter valued at about $4,782,000. Institutional investors and hedge funds own 60.41% of the company’s shares.

Changes in Analyst Ratings

A number of research firms recently commented on AAPL. Citigroup reiterated a “buy” rating and issued a $255.00 price objective on shares of Apple in a report on Tuesday, August 27th. Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a report on Thursday, September 5th. Evercore ISI reiterated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a report on Monday. Erste Group Bank upgraded Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Moderate Buy” and an average price target of $239.17, according to MarketBeat.

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Apple trading down 2.8%

NASDAQ AAPL opened at $216.32 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.95, and a debt-to-equity ratio of 1.29. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.23. The company has a market cap of $3.32 trillion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.62 and a beta of 1.24. The company’s fifty day moving average is $222.91 and its 200 day moving average is $199.00.

Apple (NASDAQ:AAPL – Get Free Report ) last announced its earnings results on Thursday, August 1st. The iPhone maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. The firm had revenue of $85.78 billion for the quarter, compared to the consensus estimate of $84.43 billion. Apple had a return on equity of 147.15% and a net margin of 26.44%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 EPS. As a group, sell-side analysts expect Apple Inc. to record 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 12th were issued a dividend of $0.25 per share. This represents an annualized dividend of $1.00 and a yield of 0.46%. The ex-dividend date was Monday, August 12. Apple’s payout ratio is currently 15.55%.

Insiders place their bets

In other news, SVP Katherine L. Adams sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $206.44, for a total value of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, insider Chris Kondo sold 5,178 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $216.50, for a total value of $1,121,037.00. Following the completion of the transaction, the insider now directly owns 24,125 shares in the company, valued at $5,223,062.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,884 shares of company stock worth $23,723,887. 0.06% of shares are currently held by company insiders.

About Apple

(Free report)

Apple Inc designs, manufactures and markets smartphones, personal computers, tablets, wearable devices and accessories worldwide. The company offers the iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multifunction tablets; and wearables, home and accessories including AirPods, Apple TV, Apple Watch, Beats products and HomePod.