Apple Inc. $AAPL is Peddock Capital Advisors LLC’s 4th Largest Position

Peddock Capital Advisors LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,130 shares of the iPhone maker’s stock after selling 717 shares during the period. Apple makes up about 5.0% of Peddock Capital Advisors LLC’s portfolio, making the stock its 4th biggest holding. Peddock Capital Advisors LLC’s holdings in Apple were worth $21,570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Advanced Portfolio Management LLC increased its position in shares of Apple by 0.3% in the 4th quarter. Advanced Portfolio Management LLC now owns 13,815 shares of the iPhone maker’s stock valued at $3,260,000 after acquiring an additional 47 shares during the period. Salus Financial Advisors LLC increased its position in shares of Apple by 3.9% in the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after acquiring an additional 49 shares during the period. Sharpepoint LLC increased its position in shares of Apple by 3.5% in the 1st quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock valued at $322,000 after acquiring an additional 51 shares during the period. Redwood Financial Network Corp increased its position in shares of Apple by 0.6% in the 4th quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after acquiring an additional 53 shares during the period. Finally, Mission Hills Financial Advisory LLC increased its position in shares of Apple by 1.3% in the 1st quarter. Mission Hills Financial Advisory LLC now owns 4,016 shares of the iPhone maker’s stock valued at $892,000 after acquiring an additional 53 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

NASDAQ:AAPL opened at $256.69 on Tuesday. Apple Inc. has a 12 month low of $169.21 and a 12 month high of $260.10. The stock has a 50 day moving average of $233.94 and a two-hundred day moving average of $214.96. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. The firm has a market cap of $3.81 trillion, a P/E ratio of 38.95, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The company had revenue of $94.04 billion during the quarter, compared to analyst estimates of $88.64 billion. During the same period in the previous year, the business earned $1.40 EPS. Apple’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts expect that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, August 11th. Apple’s payout ratio is 15.78%.

Insiders Place Their Bets

In other Apple news, CEO Timothy D. Cook sold 129,963 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $256.81, for a total value of $33,375,798.03. Following the transaction, the chief executive officer directly owned 3,280,295 shares of the company’s stock, valued at $842,412,558.95. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 47,125 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total transaction of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares in the company, valued at $46,005,982.82. This trade represents a 20.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,922 shares of company stock worth $64,320,190. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wedbush set a $310.00 target price on Apple and gave the company an “outperform” rating in a research report on Monday, September 22nd. Rosenblatt Securities increased their price target on Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. UBS Group reiterated a “neutral” rating on shares of Apple in a research note on Monday, September 8th. BMO Capital Markets reissued a “buy” rating on shares of Apple in a report on Wednesday, August 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Apple in a report on Saturday, September 27th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.49.

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.