Bay Rivers Group Sells 373 Shares of Apple Inc. (NASDAQ:AAPL)

Bay Rivers Group lessened its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 71,348 shares of the iPhone maker’s stock after selling 373 shares during the period. Apple makes up approximately 8.3% of Bay Rivers Group’s investment portfolio, making the stock its largest position. Bay Rivers Group’s holdings in Apple were worth $16,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Carolina Wealth Advisors LLC grew its holdings in shares of Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after purchasing an additional 46 shares during the last quarter. Verus Financial Partners Inc. lifted its position in Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares in the last quarter. Brown Financial Advisory increased its position in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares in the last quarter. Core Wealth Management Inc. raised its stake in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the last quarter. Finally, Lowery Thomas LLC lifted its position in shares of Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Apple

In other Apple news, 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 completion of the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the business’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 owns 187,043 shares in the company, valued at $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. Over the last ninety days, insiders sold 508,170 shares of company stock valued at $117,004,745. Insiders own 0.06% of the company’s stock.

Apple Trading Down 1.3 %

NASDAQ: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. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a market cap of $3.81 trillion, a P/E ratio of 41.48, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The business has a 50 day moving average price of $237.41 and a two-hundred day moving average price of $227.89.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business 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 was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.40%. Apple’s payout ratio is presently 16.45%.

Analyst Ratings Changes

Several research analysts recently weighed in on AAPL shares. Monness Crespi & Hardt restated a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a research note on Wednesday, September 25th. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Tuesday, December 10th. Finally, Loop Capital lowered their price target 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. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $237.47.

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.