Apple Inc. (NASDAQ:AAPL) Shares Sold by AMI Investment Management Inc.

AMI Investment Management Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,093 shares of the iPhone maker’s stock after selling 393 shares during the period. AMI Investment Management Inc.’s holdings in Apple were worth $2,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Regency Capital Management Inc. DE raised its stake in shares of Apple by 2.5% in the 3rd quarter. Regency Capital Management Inc. DE now owns 28,216 shares of the iPhone maker’s stock valued at $6,574,000 after acquiring an additional 682 shares during the period. HBW Advisory Services LLC boosted its position in shares of Apple by 5.8% in the third quarter. HBW Advisory Services LLC now owns 34,374 shares of the iPhone maker’s stock worth $8,009,000 after buying an additional 1,876 shares during the period. Chemung Canal Trust Co. grew its stake in shares of Apple by 40.4% in the third quarter. Chemung Canal Trust Co. now owns 58,152 shares of the iPhone maker’s stock valued at $13,549,000 after buying an additional 16,746 shares in the last quarter. MRA Advisory Group raised its holdings in shares of Apple by 14.0% during the 3rd quarter. MRA Advisory Group now owns 22,619 shares of the iPhone maker’s stock valued at $5,270,000 after buying an additional 2,771 shares during the period. Finally, Moody National Bank Trust Division lifted its position in Apple by 7.5% during the 3rd quarter. Moody National Bank Trust Division now owns 160,653 shares of the iPhone maker’s stock worth $37,432,000 after acquiring an additional 11,213 shares in the last quarter. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. This trade represents a 10.87 % 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, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated 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 in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of a number of recent analyst reports. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price target on shares of Apple in a report on Monday, September 9th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research note on Wednesday, October 9th. Moffett Nathanson dropped their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research note on Friday, October 25th. Finally, Robert W. Baird lifted their price target on shares of Apple from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $235.25.

Apple Trading Up 0.3 %

Shares of AAPL opened at $229.00 on Thursday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The business’s fifty day moving average is $227.47 and its 200-day moving average is $217.40. The firm has a market cap of $3.46 trillion, a price-to-earnings ratio of 37.66, a PEG ratio of 2.20 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the company earned $1.46 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

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.