Apple Inc. (NASDAQ:AAPL) Shares Sold by Congress Park Capital LLC

Congress Park Capital LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,670 shares of the iPhone maker’s stock after selling 3,235 shares during the period. Apple comprises 3.8% of Congress Park Capital LLC’s portfolio, making the stock its 7th largest holding. Congress Park Capital LLC’s holdings in Apple were worth $10,175,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Hershey Financial Advisers LLC acquired a new stake in shares of Apple in the second quarter worth about $42,000. Christopher J. Hasenberg Inc raised its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares in the last quarter. Hoese & Co LLP lifted its holdings in Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the last quarter. Sage Financial Group Inc. bought a new stake in Apple during the second quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in Apple during the second quarter valued at approximately $208,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AAPL. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Apple in a research note on Friday. Moffett Nathanson decreased their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Oppenheimer restated a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Finally, Barclays dropped their price target on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $235.68.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $237.33 on Friday. The firm has a 50 day moving average of $229.02 and a 200-day moving average of $219.59. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.81. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $3.59 trillion, a PE ratio of 39.03, a PEG ratio of 2.30 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 analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. On average, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.42%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock worth $92,007,745 in the last ninety days. Company insiders own 0.06% of the company’s stock.

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.