Apple Inc. (NASDAQ:AAPL) Shares Sold by South Street Advisors LLC

South Street Advisors LLC lessened its position in Apple Inc. (NASDAQ:AAPL) by 4.7% during the third quarter, Holdings Channel reports. The institutional investor owned 143,738 shares of the iPhone maker’s stock after selling 7,095 shares during the quarter. Apple comprises approximately 5.1% of South Street Advisors LLC’s portfolio, making the stock its 2nd largest holding. South Street Advisors LLC’s holdings in Apple were worth $33,491,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Bull Oak Capital LLC raised its holdings in Apple by 252.3% during 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 in the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc boosted its holdings 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 valued at $69,000 after buying an additional 144 shares during the last quarter. ARK Investment Management LLC bought a new position in shares of Apple in the third quarter valued at $110,000. Finally, Cordant Inc. increased its holdings 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. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of analyst reports. Rosenblatt Securities lifted their price objective on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Monness Crespi & Hardt lifted their price target on Apple to $245.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on Apple from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays decreased their target price on Apple from $184.00 to $183.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group downgraded Apple from a “hold” rating to an “underperform” rating and cut their price target for the company from $211.84 to $200.75 in a report on Tuesday. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $238.05.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on 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 owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s 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 owns 389,944 shares of the company’s stock, valued at $97,474,301.68. This trade represents a 20.41 % 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 Stock Performance

Shares of Apple stock opened at $222.78 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.35 trillion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a 50 day moving average of $240.97 and a 200-day moving average of $230.72. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10.

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

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

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.