Apple Inc. (NASDAQ:AAPL) Stock Position Reduced by Howard Capital Management Group LLC

Howard Capital Management Group LLC trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 459,914 shares of the iPhone maker’s stock after selling 2,185 shares during the quarter. Apple accounts for approximately 8.0% of Howard Capital Management Group LLC’s holdings, making the stock its biggest holding. Howard Capital Management Group LLC’s holdings in Apple were worth $63,560,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AAPL. Bluestem Financial Advisors LLC raised its position in shares of Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock valued at $35,000 after buying an additional 229,929 shares in the last quarter. Spence Asset Management purchased a new stake in shares of Apple during the 2nd quarter valued at about $49,000. HBC Financial Services PLLC raised its position in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after buying an additional 80 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of Apple during the 2nd quarter valued at about $55,000. Finally, Morgan Dempsey Capital Management LLC purchased a new stake in shares of Apple during the 3rd quarter valued at about $55,000. 57.60% of the stock is currently owned by hedge funds and other institutional investors.

Apple Trading Up 1.0 %

NASDAQ:AAPL opened at $134.76 on Monday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $179.61. The firm has a 50 day moving average of $139.33 and a 200 day moving average of $148.32. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 22.06, a PEG ratio of 1.74 and a beta of 1.24.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. As a group, sell-side analysts anticipate that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were issued a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.68%. Apple’s dividend payout ratio is currently 15.06%.

Insiders Place Their Bets

In other Apple news, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total value of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Credit Suisse Group set a $184.00 price objective on shares of Apple in a research report on Wednesday, January 4th. Barclays reduced their price objective on shares of Apple from $144.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 11th. Sanford C. Bernstein reduced their price objective on shares of Apple from $170.00 to $125.00 in a research report on Monday, January 9th. Wedbush reduced their price objective on shares of Apple from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 4th. Finally, Morgan Stanley reduced their price objective on shares of Apple from $177.00 to $175.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $171.22.

Apple Company Profile

(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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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