Schmidt P J Investment Management Inc. Sells 8,294 Shares of Apple Inc. (NASDAQ:AAPL)

Schmidt P J Investment Management Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 177,769 shares of the iPhone maker’s stock after selling 8,294 shares during the period. Apple makes up 6.3% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 2nd biggest position. Schmidt P J Investment Management Inc.’s holdings in Apple were worth $26,180,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AAPL. Wealthspire Advisors LLC boosted its holdings in shares of Apple by 42.8% in the 2nd quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after acquiring an additional 89,865 shares in the last quarter. Emerald Advisors LLC increased its stake in shares of Apple by 2.4% in the second quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock valued at $2,721,000 after buying an additional 465 shares in the last quarter. Eagle Bay Advisors LLC raised its holdings in shares of Apple by 35.7% in the second quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock valued at $3,501,000 after buying an additional 6,735 shares during the last quarter. Callan Capital LLC lifted its position in Apple by 1.6% during the 2nd quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after buying an additional 1,322 shares in the last quarter. Finally, Sageworth Trust Co grew its holdings in Apple by 150.3% during the 2nd quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock worth $793,000 after acquiring an additional 3,482 shares during the last quarter. 57.60% of the stock is owned by institutional investors and hedge funds.

Apple Stock Up 2.4 %

AAPL stock opened at $141.11 on Tuesday. 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 market capitalization of $2.23 trillion, a P/E ratio of 23.09, a P/E/G ratio of 1.78 and a beta of 1.24. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The business has a 50-day moving average of $138.57 and a 200-day moving average of $148.14.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The company 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 period last year, the business earned $1.24 EPS. On average, sell-side analysts anticipate that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were given 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 0.65%. Apple’s dividend payout ratio (DPR) is presently 15.06%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research reports. Rosenblatt Securities reduced their target price on shares of Apple from $189.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, January 13th. Bank of America lowered their target price on Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a research note on Monday, November 7th. Bank Of America (Bofa) downgraded Apple from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $189.00 to $160.00 in a research report on Friday, September 30th. Deutsche Bank Aktiengesellschaft decreased their price target on Apple from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Monday. Finally, Fundamental Research boosted their price objective on Apple to $168.50 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $166.44.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 20,200 shares of Apple 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 owns 31,505 shares of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Luca Maestri sold 176,299 shares of Apple 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 completion of the transaction, the chief financial officer now 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 is accessible through this hyperlink. Also, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 31,505 shares in the company, valued at $4,685,423.60. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

About Apple

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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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