Apple Inc. (NASDAQ:AAPL) Shares Sold by Davies Financial Advisors Inc.

Davies Financial Advisors Inc. trimmed its stake in Apple Inc. (NASDAQ:AAPL) by 0.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 33,953 shares of the iPhone maker’s stock after selling 164 shares during the period. Apple comprises 6.9% of Davies Financial Advisors Inc.’s investment portfolio, making the stock its 3rd biggest holding. Davies Financial Advisors Inc.’s holdings in Apple were worth $7,911,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. increased its stake in Apple by 127.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the period. Keener Financial Planning LLC grew its holdings in shares of Apple by 9.3% in the first quarter. Keener Financial Planning LLC now owns 5,497 shares of the iPhone maker’s stock valued at $943,000 after purchasing an additional 469 shares in the last quarter. PrairieView Partners LLC increased its stake in Apple by 1.0% during the 1st quarter. PrairieView Partners LLC now owns 24,932 shares of the iPhone maker’s stock worth $4,276,000 after buying an additional 245 shares during the period. Howland Capital Management LLC lifted its holdings in Apple by 2.0% during the 1st quarter. Howland Capital Management LLC now owns 367,082 shares of the iPhone maker’s stock worth $62,947,000 after buying an additional 7,091 shares in the last quarter. Finally, Financial Connections Group Inc. boosted its position in Apple by 11.9% in the 1st quarter. Financial Connections Group Inc. now owns 25,764 shares of the iPhone maker’s stock valued at $4,418,000 after buying an additional 2,732 shares during the period. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Apple Stock Up 1.0 %

Apple stock opened at $237.33 on Friday. The stock has a 50 day moving average of $229.02 and a two-hundred day moving average of $219.59. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.81. The stock has a market capitalization of $3.59 trillion, a price-to-earnings ratio of 39.03, a PEG ratio of 2.30 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last issued its quarterly 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. The firm had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. As a group, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.42%. Apple’s dividend payout ratio (DPR) is 16.45%.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. KeyCorp cut Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective on the stock. in a research note on Friday, October 25th. Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Wedbush reissued an “outperform” rating and set a $300.00 price objective on shares of Apple in a research report on Friday. The Goldman Sachs Group upped their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Loop Capital decreased their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.68.

Insider Buying and Selling

In related news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the firm’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 sale, the insider now directly owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock valued at $92,007,745 over the last ninety days. Corporate 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.