Apple Inc. (NASDAQ:AAPL) Holdings Lessened by Delta Capital Management LLC

Delta Capital Management LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 15.1% in the 3rd quarter, Holdings Channel reports. The firm owned 42,324 shares of the iPhone maker’s stock after selling 7,510 shares during the period. Apple makes up 3.7% of Delta Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Delta Capital Management LLC’s holdings in Apple were worth $9,861,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Granite Investment Partners LLC grew its stake in shares of Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares during the last quarter. Truist Financial Corp lifted its position in Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the period. EP Wealth Advisors LLC increased its position in Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares during the period. CHICAGO TRUST Co NA increased its position in Apple by 15.2% during the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock worth $34,768,000 after purchasing an additional 19,670 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Apple by 34.9% during the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock worth $46,650,000 after buying an additional 51,842 shares in the last quarter. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Price Performance

Shares of Apple stock opened at $242.65 on Wednesday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $242.76. 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 business’s 50-day moving average price is $229.59 and its 200-day moving average price is $220.74. The firm has a market capitalization of $3.67 trillion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 2.35 and a beta of 1.23.

Apple (NASDAQ:AAPL) last issued 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. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. Sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued 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 0.41%. Apple’s dividend payout ratio is presently 16.45%.

Insider Buying and Selling

In other news, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 $3,528,946.53. The trade was 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 quarter. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AAPL has been the topic of a number of recent analyst reports. Tigress Financial upped their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, August 28th. Melius Research reiterated a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their price target for the stock from $205.00 to $212.92 in a report on Monday, October 7th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, September 10th. Finally, New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $235.68.

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.