Chaney Capital Management Inc. Sells 421 Shares of Apple Inc. (NASDAQ:AAPL)

Chaney Capital Management Inc. lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 36,022 shares of the iPhone maker’s stock after selling 421 shares during the quarter. Apple makes up approximately 4.7% of Chaney Capital Management Inc.’s portfolio, making the stock its 6th largest holding. Chaney Capital Management Inc.’s holdings in Apple were worth $8,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Lantz Financial LLC raised its holdings in Apple by 8.6% in the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock valued at $6,266,000 after buying an additional 2,361 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Apple by 1.6% during the 2nd quarter. SJS Investment Consulting Inc. now owns 58,341 shares of the iPhone maker’s stock valued at $12,288,000 after acquiring an additional 894 shares during the period. Great Valley Advisor Group Inc. grew its holdings in shares of Apple by 3.2% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 452,065 shares of the iPhone maker’s stock worth $95,214,000 after acquiring an additional 14,189 shares during the period. Mainsail Financial Group LLC increased its position in shares of Apple by 4.6% during the second quarter. Mainsail Financial Group LLC now owns 5,352 shares of the iPhone maker’s stock valued at $1,127,000 after acquiring an additional 235 shares in the last quarter. Finally, ORBA Wealth Advisors L.L.C. raised its position in Apple by 1.4% in the second quarter. ORBA Wealth Advisors L.L.C. now owns 72,264 shares of the iPhone maker’s stock worth $15,220,000 after acquiring an additional 978 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several research reports. Oppenheimer reissued a “buy” rating and issued a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Citigroup upped their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. KeyCorp cut 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. Rosenblatt Securities boosted their price objective on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $237.64.

Apple Trading Down 1.1 %

AAPL opened at $242.21 on Wednesday. The business’s 50-day simple moving average is $239.32 and its 200-day simple moving average is $229.57. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market cap of $3.66 trillion, a P/E ratio of 39.84, a PEG ratio of 2.41 and a beta of 1.20. Apple Inc. has a one year low of $164.07 and a one year high of $260.10.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company 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 firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.46 earnings per share. As a group, equities research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insider Activity

In other news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on 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 transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

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.