Apple Inc. (NASDAQ:AAPL) Shares Sold by WD Rutherford LLC

WD Rutherford LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the third quarter, Holdings Channel.com reports. The firm owned 32,635 shares of the iPhone maker’s stock after selling 409 shares during the period. Apple accounts for approximately 3.7% of WD Rutherford LLC’s holdings, making the stock its 2nd largest position. WD Rutherford LLC’s holdings in Apple were worth $7,604,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker’s stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Apple by 14,145.8% in the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Apple by 22,870.6% during the third quarter. Pathway Financial Advisers LLC now owns 5,590,588 shares of the iPhone maker’s stock worth $1,302,607,000 after purchasing an additional 5,566,250 shares during the period. William Blair Investment Management LLC bought a new stake in Apple in the second quarter valued at about $834,368,000. Finally, Ameriprise Financial Inc. lifted its stake in Apple by 6.7% in the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock valued at $10,909,457,000 after buying an additional 3,245,281 shares during the period. 67.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AAPL. Rosenblatt Securities upped their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. UBS Group restated a “neutral” rating and issued a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and lifted their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Finally, StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.47.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were 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 of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly 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 508,170 shares of company stock worth $117,004,745 over the last three months. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL opened at $252.20 on Tuesday. 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 stock has a market cap of $3.81 trillion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The business has a 50 day moving average of $237.41 and a 200-day moving average of $227.89.

Apple (NASDAQ:AAPL) last released its quarterly earnings data 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 company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 earnings per share. On average, equities research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.40%. Apple’s dividend payout ratio is currently 16.45%.

Apple Company 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.