Apple Inc. (NASDAQ:AAPL) is Inlet Private Wealth LLC’s Largest Position

Inlet Private Wealth LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.3% in the third quarter, Holdings Channel.com reports. The fund owned 89,587 shares of the iPhone maker’s stock after selling 266 shares during the quarter. Apple makes up approximately 5.3% of Inlet Private Wealth LLC’s portfolio, making the stock its biggest holding. Inlet Private Wealth LLC’s holdings in Apple were worth $20,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after purchasing an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after buying an additional 3,245,281 shares in the last quarter. Capital International Investors raised its position in shares of Apple by 7.1% in the first quarter. Capital International Investors now owns 37,146,325 shares of the iPhone maker’s stock valued at $6,369,852,000 after buying an additional 2,474,887 shares during the last quarter. American Century Companies Inc. boosted its position in Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares during the last quarter. Finally, Swedbank AB boosted its position in Apple by 13.4% during the second quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last 90 days. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Melius Research reissued a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Moffett Nathanson reduced their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Morgan Stanley reissued an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Monday, November 25th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Piper Sandler reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Apple Stock Performance

NASDAQ:AAPL opened at $246.75 on Tuesday. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $247.24. The company has a fifty day simple moving average of $230.80 and a two-hundred day simple moving average of $222.26. 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 $3.73 trillion, a price-to-earnings ratio of 40.58, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23.

Apple (NASDAQ:AAPL) last released 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 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%. Apple’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 posted $1.46 EPS. As a group, equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 0.41%. 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.