R. W. Roge & Company Inc. Reduces Position in Apple Inc. (NASDAQ:AAPL)

R. W. Roge & Company Inc. decreased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 19.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,253 shares of the iPhone maker’s stock after selling 3,569 shares during the quarter. Apple accounts for 1.9% of R. W. Roge & Company Inc.’s portfolio, making the stock its 15th largest position. R. W. Roge & Company Inc.’s holdings in Apple were worth $3,553,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Bull Oak Capital LLC grew its position 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 valued at $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new stake in shares of Apple in the second quarter valued at $42,000. Christopher J. Hasenberg Inc grew its position in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. ARK Investment Management LLC purchased a new stake in shares of Apple in the third quarter valued at $110,000. Finally, Cordant Inc. grew its position in shares of Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This 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 the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a report on Friday, October 25th. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Bank of America reiterated a “buy” rating and issued a $253.00 target price (down previously from $256.00) on shares of Apple in a report on Friday, January 24th. Monness Crespi & Hardt lifted their target price on Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 target price on shares of Apple in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average price target of $238.05.

Apple Trading Up 0.5 %

Shares of NASDAQ AAPL opened at $239.36 on Thursday. The stock’s 50 day moving average price is $241.17 and its two-hundred day moving average price is $230.75. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The stock has a market capitalization of $3.60 trillion, a P/E ratio of 39.37, a PEG ratio of 2.19 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) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

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.