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

Foundry Partners LLC lowered its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 9.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,435 shares of the iPhone maker’s stock after selling 350 shares during the quarter. Foundry Partners LLC’s holdings in Apple were worth $475,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of AAPL. Ramsey Quantitative Systems acquired a new stake in Apple during the 2nd quarter valued at approximately $55,000. Morgan Dempsey Capital Management LLC acquired a new stake in Apple during the 3rd quarter valued at approximately $55,000. HBC Financial Services PLLC grew its stake in 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 purchasing an additional 80 shares in the last quarter. Newfound Research LLC acquired a new stake in Apple during the 3rd quarter valued at approximately $67,000. Finally, Emerson Wealth LLC grew its stake in Apple by 27.0% during the 2nd quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 57.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAPL. Bank Of America (Bofa) lowered Apple from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $189.00 to $160.00 in a research note on Friday, September 30th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 target price on shares of Apple in a report on Tuesday, November 8th. Fundamental Research increased their target price on Apple to $168.50 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Finally, Evercore ISI increased their target price on Apple from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, September 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus price target of $171.22.

Apple Stock Performance

Apple stock opened at $135.94 on Wednesday. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The stock has a fifty day moving average price of $139.18 and a two-hundred day moving average price of $148.28. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $179.61. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 22.25, a P/E/G ratio of 1.74 and a beta of 1.24.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors 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 was Friday, November 4th. Apple’s dividend payout ratio is 15.06%.

Insider Activity at Apple

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

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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