Mitchell Mcleod Pugh & Williams Inc. trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 2.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 145,560 shares of the iPhone maker’s stock after selling 3,260 shares during the period. Apple accounts for about 7.1% of Mitchell Mcleod Pugh & Williams Inc.’s holdings, making the stock its biggest holding. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Apple were worth $33,915,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in AAPL. International Assets Investment Management LLC grew its stake in shares of 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 buying an additional 93,886,664 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after acquiring an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Apple by 6.7% during 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 purchasing an additional 3,245,281 shares during the period. American Century Companies Inc. lifted its position in shares of Apple by 3.2% during the second quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after purchasing an additional 1,065,759 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of Apple by 14.0% in the third quarter. National Pension Service now owns 27,882,996 shares of the iPhone maker’s stock valued at $6,496,738,000 after purchasing an additional 3,416,922 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts recently issued reports on AAPL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Tuesday, December 10th. New Street Research reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Wells Fargo & Company increased their price target on Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, October 9th. Finally, Moffett Nathanson reiterated a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.85.
Apple Trading Up 0.8 %
Apple stock opened at $229.98 on Friday. The firm has a 50-day moving average price of $240.95 and a two-hundred day moving average price of $230.56. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The firm has a market capitalization of $3.48 trillion, a price-to-earnings ratio of 37.83, a PEG ratio of 2.32 and a beta of 1.20. 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 (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. Sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.
Insider Buying and Selling
In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
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.
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