Apple Inc. (NASDAQ:AAPL) is Hilton Capital Management LLC’s 8th Largest Position

Hilton Capital Management LLC trimmed its holdings in Apple Inc. (NASDAQ:AAPL) by 1.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 168,528 shares of the iPhone maker’s stock after selling 2,369 shares during the period. Apple makes up about 3.9% of Hilton Capital Management LLC’s holdings, making the stock its 8th largest holding. Hilton Capital Management LLC’s holdings in Apple were worth $32,689,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AAPL. Atlantic Private Wealth LLC acquired a new position in Apple during the first quarter worth $30,000. Cheyne Capital Management UK LLP lifted its stake in Apple by 200.0% during the third quarter. Cheyne Capital Management UK LLP now owns 275 shares of the iPhone maker’s stock worth $212,000 after purchasing an additional 550 shares in the last quarter. HBC Financial Services PLLC lifted its stake in 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. Clear Perspectives Financial Planning LLC lifted its stake in 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 purchasing an additional 211 shares in the last quarter. Finally, NNS Holding acquired a new position in Apple during the second quarter worth $193,000. 58.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,806 shares of Apple stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $184.04, for a total value of $884,496.24. Following the sale, the insider now 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 is available through the SEC website. In other Apple news, insider Chris Kondo sold 4,806 shares of Apple stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $184.04, for a total value of $884,496.24. Following the sale, the insider now 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 is available through the SEC website. Also, SVP Deirdre O’brien sold 65,536 shares of Apple stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $172.11, for a total value of $11,279,400.96. Following the completion of the sale, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $23,483,548.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 444,391 shares of company stock valued at $77,370,046. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on AAPL shares. Piper Sandler Companies upped their price target on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Rosenblatt Securities decreased their price target on Apple from $198.00 to $189.00 and set a “neutral” rating on the stock in a research note on Friday, November 3rd. Morgan Stanley restated an “overweight” rating and set a $210.00 price target on shares of Apple in a research note on Friday, November 3rd. UBS Group reiterated a “neutral” rating and issued a $190.00 target price on shares of Apple in a report on Wednesday, September 27th. Finally, Canaccord Genuity Group lifted their target price on Apple from $185.00 to $205.00 and gave the company a “buy” rating in a report on Friday, August 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $198.25.

Apple Stock Performance

Shares of AAPL stock opened at $189.71 on Friday. The stock has a market capitalization of $2.95 trillion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 2.55 and a beta of 1.30. Apple Inc. has a 52-week low of $124.17 and a 52-week high of $198.23. The stock’s 50-day moving average price is $176.68 and its 200 day moving average price is $180.53. The company has a quick ratio of 0.94, a current ratio of 0.99 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results 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. The firm had revenue of $89.50 billion for the quarter, compared to analysts’ expectations of $89.34 billion. Apple had a return on equity of 160.78% and a net margin of 25.31%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 EPS. As a group, equities research analysts forecast that Apple Inc. will post 6.56 EPS for the current year.

Apple Announces Dividend

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

About Apple

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.