Apple Inc. (NASDAQ:AAPL) Holdings Cut by Westhampton Capital LLC

Westhampton Capital LLC reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,186 shares of the iPhone maker’s stock after selling 6,660 shares during the period. Apple makes up 10.8% of Westhampton Capital LLC’s portfolio, making the stock its biggest holding. Westhampton Capital LLC’s holdings in Apple were worth $21,246,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AAPL. Swedbank AB bought a new position in shares of Apple in the first quarter worth approximately $3,026,492,000. Strategic Financial Concepts LLC lifted its position in Apple by 14,145.8% during the second quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Apple in the 2nd quarter worth approximately $834,368,000. Ameriprise Financial Inc. increased its holdings in shares of Apple by 6.7% in the 2nd 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 during the last quarter. Finally, Tairen Capital Ltd purchased a new stake in shares of Apple during the 2nd quarter valued at $588,952,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other news, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 508,170 shares of company stock worth $117,004,745. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Loop Capital cut their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Tigress Financial upped their price objective on Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Piper Sandler reissued a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Oppenheimer reaffirmed a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Finally, Melius Research reissued a “buy” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Apple Trading Down 2.1 %

NASDAQ:AAPL opened at $248.05 on Thursday. The firm has a market capitalization of $3.75 trillion, a P/E ratio of 40.80, a PEG ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a one year low of $164.07 and a one year high of $254.28. The company’s 50-day simple moving average is $234.01 and its 200 day simple moving average is $224.89.

Apple (NASDAQ:AAPL) last posted its quarterly 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 company had revenue of $94.93 billion for 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS. As a group, analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

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.