Apple Inc. (NASDAQ:AAPL) Shares Sold by Patron Partners LLC

Patron Partners LLC lessened its position in Apple Inc. (NASDAQ:AAPLGet Rating) by 0.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 48,772 shares of the iPhone maker’s stock after selling 177 shares during the period. Apple makes up about 5.6% of Patron Partners LLC’s holdings, making the stock its 2nd largest position. Patron Partners LLC’s holdings in Apple were worth $6,740,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AAPL. Bluestem Financial Advisors LLC boosted its position in shares of Apple by 5,935.2% during the second 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 during the last quarter. HBC Financial Services PLLC boosted its position in shares of Apple by 21.7% during the first 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 during the last quarter. Ramsey Quantitative Systems purchased a new position in shares of Apple during the second quarter valued at approximately $55,000. Morgan Dempsey Capital Management LLC purchased a new position in shares of Apple during the third quarter valued at approximately $55,000. Finally, Newfound Research LLC purchased a new position in shares of Apple during the third quarter valued at approximately $67,000. Institutional investors and hedge funds own 57.60% of the company’s stock.

Apple Stock Performance

NASDAQ:AAPL opened at $134.76 on Tuesday. The business’s 50-day moving average price is $139.25 and its two-hundred day moving average price is $148.30. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $179.61. The stock has a market cap of $2.14 trillion, a P/E ratio of 22.06, a PEG ratio of 1.74 and a beta of 1.24. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95.

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

Apple Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.68%. Apple’s payout ratio is currently 15.06%.

Insider Activity

In other news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction dated 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 in the company, valued at approximately $17,259,454.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Chris Kondo sold 20,200 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the transaction, the insider now directly owns 31,505 shares in the company, valued at approximately $4,685,423.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 110,673 shares in the company, valued at $17,259,454.35. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. UBS Group set a $180.00 target price on Apple in a research report on Thursday, January 12th. Credit Suisse Group set a $184.00 price objective on Apple in a research note on Wednesday, January 4th. Needham & Company LLC restated a “buy” rating and issued a $170.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Citigroup restated a “buy” rating and issued a $175.00 price objective on shares of Apple in a research note on Tuesday, November 8th. Finally, Morgan Stanley reduced their price objective on Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a research note on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $171.22.

Apple 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.

Further Reading

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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