ORBA Wealth Advisors L.L.C. Sells 713 Shares of Apple Inc. (NASDAQ:AAPL)

ORBA Wealth Advisors L.L.C. decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.0% in the third quarter, Holdings Channel reports. The fund owned 71,551 shares of the iPhone maker’s stock after selling 713 shares during the period. Apple accounts for 8.4% of ORBA Wealth Advisors L.L.C.’s investment portfolio, making the stock its biggest holding. ORBA Wealth Advisors L.L.C.’s holdings in Apple were worth $16,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Hershey Financial Advisers LLC acquired a new stake in Apple in the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc grew its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares in the last quarter. Hoese & Co LLP increased its stake in Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the period. Sage Financial Group Inc. acquired a new position in Apple in the 2nd quarter valued at approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new stake in shares of Apple in the 2nd quarter worth approximately $208,000. 60.41% of the stock is currently owned by institutional investors.

Apple Stock Up 1.0 %

Shares of AAPL opened at $237.33 on Friday. The firm has a 50 day simple moving average of $229.02 and a two-hundred day simple moving average of $219.59. The company has a market cap of $3.59 trillion, a P/E ratio of 39.03, a P/E/G ratio of 2.30 and a beta of 1.24. Apple Inc. has a one year low of $164.07 and a one year high of $237.81. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate 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 EPS. Research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

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

Insider Activity

In other news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were 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 in the company, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated 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. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AAPL. Melius Research restated a “buy” rating and issued a $265.00 target price on shares of Apple in a research note on Tuesday, August 27th. Jefferies Financial Group cut shares of Apple from a “buy” rating to a “hold” rating and increased their price objective for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Maxim Group raised their price objective on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Citigroup upped their target price on shares of Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Monday, November 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.68.

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.