Elm3 Financial Group LLC Sells 2,544 Shares of Apple Inc. $AAPL

Elm3 Financial Group LLC decreased its position in Apple Inc. (NASDAQ:AAPL) by 14.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,003 shares of the iPhone maker’s stock after selling 2,544 shares during the period. Apple comprises approximately 2.6% of Elm3 Financial Group LLC’s portfolio, making the stock its 12th biggest holding. Elm3 Financial Group LLC’s holdings in Apple were worth $3,078,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Salus Financial Advisors LLC boosted its holdings in shares of Apple by 3.9% during the 1st quarter. Salus Financial Advisors LLC now owns 1,310 shares of the iPhone maker’s stock valued at $291,000 after purchasing an additional 49 shares during the last quarter. Red Tortoise LLC increased its holdings in shares of Apple by 0.9% in the second quarter. Red Tortoise LLC now owns 5,717 shares of the iPhone maker’s stock worth $1,173,000 after purchasing an additional 49 shares during the last quarter. SigFig Wealth Management LLC increased its holdings in shares of Apple by 2.8% in the second quarter. SigFig Wealth Management LLC now owns 1,830 shares of the iPhone maker’s stock worth $368,000 after purchasing an additional 50 shares during the last quarter. Sharpepoint LLC lifted its position in shares of Apple by 3.5% in the first quarter. Sharpepoint LLC now owns 1,523 shares of the iPhone maker’s stock worth $322,000 after buying an additional 51 shares in the last quarter. Finally, Redwood Financial Network Corp boosted its stake in Apple by 0.6% during the fourth quarter. Redwood Financial Network Corp now owns 8,720 shares of the iPhone maker’s stock valued at $2,184,000 after buying an additional 53 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Price Performance

AAPL opened at $269.70 on Thursday. The company has a market capitalization of $4.00 trillion, a price-to-earnings ratio of 40.93, a PEG ratio of 2.61 and a beta of 1.09. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.25. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $271.41. The business’s fifty day simple moving average is $246.55 and its 200-day simple moving average is $221.19.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, July 31st. The iPhone maker reported $1.57 earnings per share for the quarter, beating 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 firm had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same period in the previous year, the company posted $1.40 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, September 8th. Wells Fargo & Company lifted their target price on Apple from $245.00 to $290.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Barclays boosted their target price on Apple from $173.00 to $180.00 and gave the company an “underweight” rating in a research report on Friday, August 1st. Rosenblatt Securities lifted their price objective on shares of Apple from $223.00 to $241.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Apple in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.49.

Insider Buying and Selling at Apple

In related news, CFO Kevan Parekh sold 4,199 shares of Apple stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $247.39, for a total transaction of $1,038,790.61. Following the transaction, the chief financial officer directly owned 8,765 shares of the company’s stock, valued at $2,168,373.35. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 47,125 shares of the business’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the completion of the transaction, the senior vice president directly owned 179,158 shares of the company’s stock, valued at approximately $46,005,982.82. The trade was a 20.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 259,121 shares of company stock worth $65,358,981. Company insiders own 0.06% of the company’s stock.

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.