Single Point Partners LLC Sells 230 Shares of Apple Inc. (NASDAQ:AAPL)

Single Point Partners LLC reduced its position in Apple Inc. (NASDAQ:AAPL) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,791 shares of the iPhone maker’s stock after selling 230 shares during the period. Apple makes up about 6.0% of Single Point Partners LLC’s holdings, making the stock its 6th biggest holding. Single Point Partners LLC’s holdings in Apple were worth $3,912,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Fidelis Capital Partners LLC lifted its position in Apple by 17.9% in the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 31,278 shares during the period. Hershey Financial Advisers LLC purchased a new position in Apple during the second quarter valued at approximately $42,000. Access Investment Management LLC acquired a new position in Apple in the 1st quarter worth about $140,000. Hoese & Co LLP raised its holdings in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. acquired a new stake in Apple in the 2nd quarter worth approximately $206,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AAPL. Moffett Nathanson reduced their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Friday, November 1st. Citigroup upped their price objective on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research report on Friday, October 25th. Finally, Loop Capital decreased their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $235.25.

Insiders Place Their Bets

In other news, 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 sale, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 over the last quarter. 0.06% of the stock is owned by insiders.

Apple Stock Up 0.1 %

NASDAQ:AAPL opened at $228.28 on Wednesday. The firm has a market capitalization of $3.45 trillion, a P/E ratio of 37.55, a PEG ratio of 2.20 and a beta of 1.24. The company’s fifty day moving average price is $227.34 and its 200-day moving average price is $217.31. 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 Inc. has a 1-year low of $164.07 and a 1-year high of $237.49.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 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 company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company earned $1.46 earnings per share. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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 $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. Apple’s dividend payout ratio (DPR) is 16.45%.

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.