Horrell Capital Management Inc. Sells 99 Shares of Apple Inc. (NASDAQ:AAPL)

Horrell Capital Management Inc. cut its position in Apple Inc. (NASDAQ:AAPL) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,946 shares of the iPhone maker’s stock after selling 99 shares during the period. Horrell Capital Management Inc.’s holdings in Apple were worth $1,851,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bull Oak Capital LLC lifted its stake in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC bought a new position in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares during the period. Cordant Inc. increased its position in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the period. Finally, Sage Financial Group Inc. bought a new position in Apple during the second quarter worth $206,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Trading Down 1.3 %

Shares of Apple stock opened at $252.20 on Tuesday. The company’s 50-day moving average price is $237.41 and its 200-day moving average price is $227.89. The company 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 company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during 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 was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.46 EPS. On average, equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given 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 payout ratio is currently 16.45%.

Insiders Place Their Bets

In other news, insider Chris Kondo sold 4,130 shares of the company’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 sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock valued at $117,004,745 in the last quarter. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AAPL. Moffett Nathanson decreased their price target on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. UBS Group reiterated a “neutral” rating and issued a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Evercore ISI restated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Jefferies Financial Group lowered shares of Apple from a “buy” rating to a “hold” rating and lifted their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Finally, Wells Fargo & Company boosted their target price on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two investment 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 given a strong buy rating to the stock. According to MarketBeat, 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.