Forte Capital LLC ADV lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 283,628 shares of the iPhone maker’s stock after selling 7,196 shares during the quarter. Apple makes up approximately 7.1% of Forte Capital LLC ADV’s investment portfolio, making the stock its largest position. Forte Capital LLC ADV’s holdings in Apple were worth $39,197,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. MKT Advisors LLC boosted its position in shares of Apple by 0.5% during the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after purchasing an additional 60 shares in the last quarter. Your Advocates Ltd. LLP boosted its position in shares of Apple by 1.0% during the 2nd quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock worth $867,000 after purchasing an additional 65 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Apple by 6.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock worth $143,000 after purchasing an additional 66 shares in the last quarter. Aufman Associates Inc boosted its position in shares of Apple by 0.9% during the 2nd quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock worth $1,049,000 after purchasing an additional 66 shares in the last quarter. Finally, Lake Point Wealth Management boosted its position in shares of Apple by 1.7% during the 2nd quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock worth $550,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 57.60% of the company’s stock.
Insider Buying and Selling at Apple
In other Apple news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Apple news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $155.95, for a total value of $27,493,829.05. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 directly owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
Apple Stock Up 1.0 %
Apple (NASDAQ:AAPL – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. During the same period last year, the firm earned $1.24 EPS. Apple’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Apple Inc. will post 6.19 EPS for the current year.
Apple Announces Dividend
The company 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. This represents a $0.92 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is 15.06%.
Analyst Upgrades and Downgrades
AAPL has been the topic of several recent research reports. Robert W. Baird dropped their price target on shares of Apple from $185.00 to $170.00 and set an “outperform” rating on the stock in a research report on Friday, October 28th. DA Davidson dropped their price target on shares of Apple to $167.00 in a research report on Thursday, December 1st. Morgan Stanley dropped their price target 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. Credit Suisse Group set a $184.00 price target on shares of Apple in a research report on Wednesday, January 4th. Finally, BNP Paribas cut shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price target on the stock. in a research report on Tuesday, January 3rd. Two equities research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $171.22.
Apple Company Profile
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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