Horan Capital Advisors LLC. trimmed its stake in Apple Inc. (NASDAQ:AAPL – Free Report) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,625 shares of the iPhone maker’s stock after selling 1,954 shares during the period. Apple comprises about 6.2% of Horan Capital Advisors LLC.’s investment portfolio, making the stock its 2nd largest position. Horan Capital Advisors LLC.’s holdings in Apple were worth $18,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently bought and sold shares of AAPL. 1620 Investment Advisors Inc. grew its holdings in shares of Apple by 0.5% during the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock worth $2,249,000 after buying an additional 45 shares in the last quarter. Carolina Wealth Advisors LLC grew its position in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock valued at $813,000 after acquiring an additional 46 shares during the period. Verus Financial Partners Inc. increased its position in Apple by 0.3% during the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory raised its stake in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares during the period. Finally, Core Wealth Management Inc. lifted its stake in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Stock Performance
AAPL opened at $238.26 on Wednesday. The company has a market cap of $3.58 trillion, a price-to-earnings ratio of 39.19, a PEG ratio of 2.19 and a beta of 1.20. The company’s fifty day moving average price is $240.97 and its two-hundred day moving average price is $230.70. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.
Apple Dividend Announcement
The business also recently declared 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is currently 16.45%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on AAPL shares. Needham & Company LLC restated a “buy” rating and issued a $260.00 price target on shares of Apple in a research note on Tuesday, January 21st. Maxim Group lifted their price target on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lowered their price objective on shares of Apple from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Citigroup lifted their price target on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a research note on Friday, October 25th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and an average target price of $238.05.
Get Our Latest Stock Report on Apple
Insider Activity at Apple
In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple Company 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.
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