31,838 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Prossimo Advisors LLC

Prossimo Advisors LLC purchased a new stake in Apple Inc. (NASDAQ:AAPL) during the 3rd quarter, Holdings Channel reports. The firm purchased 31,838 shares of the iPhone maker’s stock, valued at approximately $7,418,000. Apple makes up about 5.4% of Prossimo Advisors LLC’s portfolio, making the stock its 2nd biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bull Oak Capital LLC grew its position in shares of Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new stake in Apple in the 2nd quarter valued at about $42,000. Christopher J. Hasenberg Inc grew its holdings in Apple by 88.9% during the third 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 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 last quarter. Finally, EMC Capital Management raised its stake in Apple by 7.3% in the third quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock valued at $201,000 after buying an additional 61 shares during the period. 67.73% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Apple news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

Apple Trading Down 0.2 %

Shares of AAPL opened at $243.36 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The firm has a market cap of $3.68 trillion, a price-to-earnings ratio of 40.03, a PEG ratio of 2.41 and a beta of 1.20. The business’s fifty day moving average is $238.91 and its 200-day moving average is $229.08.

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

Apple Dividend Announcement

The business also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AAPL shares. Maxim Group lifted their target price on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. UBS Group reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Bank of America reissued a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Friday. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a report on Friday, October 25th. Finally, Citigroup upped their price target on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $238.03.

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.