City Center Advisors LLC Sells 77 Shares of Apple Inc. (NASDAQ:AAPL)

City Center Advisors LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,315 shares of the iPhone maker’s stock after selling 77 shares during the period. Apple accounts for 0.9% of City Center Advisors LLC’s holdings, making the stock its 25th biggest position. City Center Advisors LLC’s holdings in Apple were worth $772,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Apple by 5.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock worth $11,160,183,000 after acquiring an additional 2,785,807 shares during the period. Ameriprise Financial Inc. grew its position in Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after buying an additional 3,245,281 shares during the period. Capital International Investors boosted its position in Apple by 7.1% during the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock worth $6,369,852,000 after purchasing an additional 2,474,887 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock valued at $7,291,583,000 after buying an additional 1,065,759 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Apple by 1.7% during the first quarter. Jennison Associates LLC now owns 29,515,371 shares of the iPhone maker’s stock worth $5,061,296,000 after purchasing an additional 485,873 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on AAPL shares. Rosenblatt Securities increased their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. New Street Research reiterated a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Moffett Nathanson reduced their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 19th. Monness Crespi & Hardt reissued a “buy” rating and set a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.25.

Insider Buying and Selling

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The transaction 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 the business’s 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 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 over the last ninety days. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 0.6 %

AAPL opened at $229.87 on Friday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The business has a 50 day moving average price of $227.73 and a two-hundred day moving average price of $218.06. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.47 trillion, a PE ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24.

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

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

Apple 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.