Apple Inc. (NASDAQ:AAPL) is Valeo Financial Advisors LLC’s 5th Largest Position

Valeo Financial Advisors LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 653,988 shares of the iPhone maker’s stock after selling 8,812 shares during the quarter. Apple comprises about 3.8% of Valeo Financial Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Valeo Financial Advisors LLC’s holdings in Apple were worth $142,148,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its position in shares of Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock valued at $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Mittelman Wealth Management purchased a new position in shares of Apple in the 1st quarter valued at approximately $2,140,000. Manchester Capital Management LLC raised its position in shares of Apple by 1.7% in the 1st quarter. Manchester Capital Management LLC now owns 266,403 shares of the iPhone maker’s stock valued at $45,683,000 after purchasing an additional 4,450 shares during the last quarter. Mawer Investment Management Ltd. raised its position in shares of Apple by 5.0% in the 1st quarter. Mawer Investment Management Ltd. now owns 2,960 shares of the iPhone maker’s stock valued at $508,000 after purchasing an additional 140 shares during the last quarter. Finally, VitalStone Financial LLC raised its position in shares of Apple by 18.4% in the 1st quarter. VitalStone Financial LLC now owns 5,487 shares of the iPhone maker’s stock valued at $941,000 after purchasing an additional 851 shares during the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AAPL shares. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Apple in a research report on Friday. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and increased their price target for the stock from $205.00 to $212.92 in a report on Monday, October 7th. New Street Research reiterated a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Evercore ISI reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Finally, KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $235.68.

Apple Price Performance

AAPL stock opened at $237.33 on Friday. The business has a 50 day moving average price of $229.02 and a 200 day moving average price of $219.81. The stock has a market cap of $3.59 trillion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.30 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.81. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its 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 analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share. Equities research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’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 completion of the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by insiders.

About Apple

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.