Ables Iannone Moore & Associates Inc. Has $24.65 Million Stock Position in Apple Inc. $AAPL

Ables Iannone Moore & Associates Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,817 shares of the iPhone maker’s stock after selling 3,933 shares during the period. Apple makes up 14.2% of Ables Iannone Moore & Associates Inc.’s portfolio, making the stock its biggest position. Ables Iannone Moore & Associates Inc.’s holdings in Apple were worth $24,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC raised its stake in shares of Apple by 573,627.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 205,692,660 shares of the iPhone maker’s stock worth $39,065,374,000 after buying an additional 205,656,808 shares in the last quarter. Norges Bank acquired a new position in Apple during the second quarter worth about $38,942,255,000. Nuveen LLC acquired a new position in Apple during the first quarter worth about $17,472,482,000. PKS Advisory Services LLC raised its position in Apple by 98,917.0% in the second quarter. PKS Advisory Services LLC now owns 57,956,620 shares of the iPhone maker’s stock worth $12,106,000 after acquiring an additional 57,898,088 shares in the last quarter. Finally, Laurel Wealth Advisors LLC lifted its holdings in Apple by 20,464.8% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 27,069,029 shares of the iPhone maker’s stock valued at $5,553,753,000 after acquiring an additional 26,937,401 shares during the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

AAPL opened at $272.19 on Friday. The firm has a market capitalization of $4.02 trillion, a P/E ratio of 36.44, a PEG ratio of 2.54 and a beta of 1.10. The stock has a fifty day moving average of $269.59 and a 200-day moving average of $238.81. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 1.06. Apple Inc. has a 12-month low of $169.21 and a 12-month high of $288.62.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 30th. The iPhone maker reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The business had revenue of $102.47 billion for the quarter, compared to the consensus estimate of $101.65 billion. Apple had a return on equity of 164.05% and a net margin of 26.92%.Apple’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 earnings per share. Equities analysts forecast that Apple Inc. will post 7.28 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Monday, November 10th were issued a $0.26 dividend. The ex-dividend date was Monday, November 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.4%. Apple’s dividend payout ratio is currently 13.92%.

Insider Buying and Selling

In related news, CFO Kevan Parekh sold 4,199 shares of the business’s 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 approximately $2,168,373.35. The trade was a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 3,752 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $271.23, for a total transaction of $1,017,654.96. Following the completion of the sale, the insider owned 15,098 shares of the company’s stock, valued at approximately $4,095,030.54. The trade was a 19.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 228,052 shares of company stock worth $58,604,588 over the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AAPL. UBS Group reaffirmed a “neutral” rating on shares of Apple in a research note on Monday, December 8th. Monness Crespi & Hardt upped their price target on Apple from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday, October 31st. Rosenblatt Securities raised their price objective on Apple from $241.00 to $250.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Wednesday, December 3rd. Finally, DA Davidson upped their target price on Apple from $250.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $283.92.

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.