Hudson Capital Management LLC Cuts Holdings in Apple Inc. (NASDAQ:AAPL)

Hudson Capital Management LLC trimmed its position in Apple Inc. (NASDAQ:AAPL) by 2.2% during the third quarter, HoldingsChannel.com reports. The firm owned 29,084 shares of the iPhone maker’s stock after selling 661 shares during the quarter. Apple accounts for approximately 2.2% of Hudson Capital Management LLC’s investment portfolio, making the stock its 10th biggest holding. Hudson Capital Management LLC’s holdings in Apple were worth $6,777,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Granite Investment Partners LLC raised its holdings in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares in the last quarter. Truist Financial Corp increased its position in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC increased its position in Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after buying an additional 95,235 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Apple by 34.9% in the third quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock valued at $46,650,000 after purchasing an additional 51,842 shares during the last quarter. Finally, Bellwether Advisors LLC grew its position in shares of Apple by 387.3% in the second quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares during the last quarter. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of AAPL opened at $234.93 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a 50-day moving average of $228.83 and a 200-day moving average of $219.23. The company has a market cap of $3.55 trillion, a PE ratio of 38.64, a P/E/G ratio of 2.28 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.49.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company 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 firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $1.46 EPS. On average, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio is presently 16.45%.

Analysts Set New Price Targets

Several equities analysts have recently commented on AAPL shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 target price on shares of Apple in a research report on Friday, November 1st. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 target price on shares of Apple in a research note on Monday, September 9th. Finally, The Goldman Sachs Group upped their target price on Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Activity at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by corporate insiders.

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.