Sage Financial Management Group Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 4.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,483 shares of the iPhone maker’s stock after selling 200 shares during the quarter. Apple accounts for 0.5% of Sage Financial Management Group Inc.’s investment portfolio, making the stock its 19th largest position. Sage Financial Management Group Inc.’s holdings in Apple were worth $620,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Bluestem Financial Advisors LLC increased its stake in Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after buying an additional 229,929 shares in the last quarter. HBC Financial Services PLLC increased 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 worth $49,000 after purchasing an additional 80 shares in the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of Apple during the second quarter worth approximately $55,000. Morgan Dempsey Capital Management LLC purchased a new position in Apple in the 3rd quarter valued at $55,000. Finally, Newfound Research LLC acquired a new stake in Apple during the 3rd quarter worth $67,000. 57.60% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Apple
In related news, CFO Luca Maestri sold 176,299 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Chris Kondo sold 20,200 shares of the business’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 in the company, valued at $4,685,423.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 sale, 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. 0.06% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Apple Price Performance
AAPL opened at $135.27 on Friday. The stock’s 50-day moving average price is $138.95 and its 200 day moving average price is $148.10. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61. The firm has a market cap of $2.14 trillion, a price-to-earnings ratio of 22.14, a PEG ratio of 1.74 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95.
Apple (NASDAQ:AAPL – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (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 business had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts expect that Apple Inc. will post 6.19 earnings per share for the current year.
Apple Announces Dividend
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 dividend of $0.23 per share. The ex-dividend date was Friday, November 4th. This represents a $0.92 annualized dividend and a yield of 0.68%. Apple’s dividend payout ratio (DPR) is 15.06%.
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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