Etfidea LLC Sells 68 Shares of Apple Inc. (NASDAQ:AAPL)

Etfidea LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 15,190 shares of the iPhone maker’s stock after selling 68 shares during the period. Apple makes up 1.1% of Etfidea LLC’s portfolio, making the stock its 23rd largest position. Etfidea LLC’s holdings in Apple were worth $3,539,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AAPL. Bull Oak Capital LLC lifted its position 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 during the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple during the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted 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 acquiring an additional 144 shares during the last quarter. ARK Investment Management LLC acquired a new stake in shares of Apple in the third quarter valued at approximately $110,000. Finally, Cordant Inc. raised 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 buying an additional 173 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $239.36 on Thursday. 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 Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The stock has a market cap of $3.60 trillion, a price-to-earnings ratio of 39.37, a P/E/G ratio of 2.19 and a beta of 1.20. The company’s fifty day moving average is $241.17 and its 200 day moving average is $230.75.

Apple (NASDAQ:AAPL) last released its earnings results 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. The business had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 earnings per share. Sell-side analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now 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 company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $273.00 price target on shares of Apple in a research report on Friday, December 13th. Sanford C. Bernstein lifted their price target on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. UBS Group restated a “neutral” rating and set a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday. Finally, Maxim Group boosted their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $238.05.

About Apple

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.