Apple Inc. (NASDAQ:AAPL) Holdings Lessened by Sage Rhino Capital LLC

Sage Rhino Capital LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,863 shares of the iPhone maker’s stock after selling 785 shares during the quarter. Apple makes up about 3.3% of Sage Rhino Capital LLC’s holdings, making the stock its 6th largest position. Sage Rhino Capital LLC’s holdings in Apple were worth $11,806,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Atlantic Private Wealth LLC purchased a new position in shares of Apple during the first quarter worth about $30,000. Summit Wealth Group LLC grew its holdings in shares of Apple by 16,252.3% during the first quarter. Summit Wealth Group LLC now owns 6,992,420 shares of the iPhone maker’s stock worth $42,000 after buying an additional 6,949,659 shares during the last quarter. HBC Financial Services PLLC grew its holdings 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 buying an additional 80 shares during the last quarter. Clear Perspectives Financial Planning LLC grew its holdings in shares of Apple by 27.3% during the first quarter. Clear Perspectives Financial Planning LLC now owns 983 shares of the iPhone maker’s stock worth $172,000 after buying an additional 211 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its holdings in shares of Apple by 10.6% during the second quarter. Magellan Asset Management Ltd now owns 1,323 shares of the iPhone maker’s stock worth $181,000 after buying an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Apple Stock Up 0.9 %

AAPL stock opened at $189.71 on Friday. The stock has a market capitalization of $2.95 trillion, a P/E ratio of 31.00, a PEG ratio of 2.55 and a beta of 1.30. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.94 and a current ratio of 0.99. Apple Inc. has a one year low of $124.17 and a one year high of $198.23. The company has a 50 day moving average price of $176.68 and a two-hundred day moving average price of $180.53.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.07. Apple had a net margin of 25.31% and a return on equity of 160.78%. The company had revenue of $89.50 billion during the quarter, compared to analysts’ expectations of $89.34 billion. During the same period in the previous year, the company earned $1.29 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. As a group, sell-side analysts expect that Apple Inc. will post 6.56 EPS for the current year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 13th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.96 annualized dividend and a dividend yield of 0.51%. Apple’s dividend payout ratio is presently 15.69%.

Insider Activity

In other news, insider Chris Kondo sold 4,806 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $184.04, for a total transaction of $884,496.24. Following the completion of the sale, the insider now directly owns 34,687 shares of the company’s stock, valued at approximately $6,383,795.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Chris Kondo sold 4,806 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $184.04, for a total transaction of $884,496.24. Following the completion of the sale, the insider now directly owns 34,687 shares of the company’s stock, valued at approximately $6,383,795.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $172.11, for a total transaction of $11,279,400.96. Following the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at $23,483,548.95. The disclosure for this sale can be found here. Insiders sold 444,391 shares of company stock valued at $77,370,046 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AAPL shares. Rosenblatt Securities lowered their price target on Apple from $198.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. Evercore ISI restated an “outperform” rating and issued a $210.00 price objective on shares of Apple in a research report on Thursday, September 28th. Barclays reduced their price objective on shares of Apple from $167.00 to $166.00 and set an “equal weight” rating for the company in a research report on Monday, October 30th. Wells Fargo & Company raised their price objective on shares of Apple from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. Finally, Raymond James raised their price objective on shares of Apple from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $198.25.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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.