Addison Capital Co Cuts Position in Apple Inc. (NASDAQ:AAPL)

Addison Capital Co trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,527 shares of the iPhone maker’s stock after selling 60 shares during the period. Apple makes up approximately 2.4% of Addison Capital Co’s holdings, making the stock its 13th biggest holding. Addison Capital Co’s holdings in Apple were worth $5,948,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Hershey Financial Advisers LLC bought a new position in shares of Apple during the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc lifted its stake in shares of Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Cordant Inc. boosted its holdings in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the period. Hoese & Co LLP grew its position in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. purchased a new stake in Apple in the second quarter worth $206,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 in the last three months. 0.06% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on AAPL shares. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Barclays reduced their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Melius Research reiterated a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. UBS Group restated a “neutral” rating and set a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Finally, Piper Sandler restated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Apple Stock Up 0.4 %

Shares of AAPL opened at $247.77 on Wednesday. The stock has a fifty day simple moving average of $230.80 and a two-hundred day simple moving average of $222.26. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $3.75 trillion, a PE ratio of 40.75, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $248.21.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

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.