C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Lowers Stock Position in Apple Inc. (NASDAQ:AAPL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.2% in the third quarter, HoldingsChannel.com reports. The firm owned 91,584 shares of the iPhone maker’s stock after selling 2,080 shares during the period. Apple accounts for approximately 1.8% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ portfolio, making the stock its 12th largest holding. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Apple were worth $21,339,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Granite Investment Partners LLC increased its position in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares during the period. Truist Financial Corp grew its stake in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after purchasing an additional 126,210 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares during the period. Bellwether Advisors LLC raised its position in Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Apple by 34.9% in the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock valued at $46,650,000 after buying an additional 51,842 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Buying and Selling at Apple

In other news, 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 value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,170 shares of company stock valued at $92,007,745. Company insiders own 0.06% of the company’s stock.

Apple Trading Up 1.3 %

Apple stock opened at $232.87 on Tuesday. The stock has a 50-day moving average price of $228.06 and a 200 day moving average price of $218.64. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The stock has a market cap of $3.52 trillion, a PE ratio of 38.30, a P/E/G ratio of 2.25 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 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. The business 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 company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AAPL shares. New Street Research reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Maxim Group increased their target price on Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Rosenblatt Securities raised their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. Two investment 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 given a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and an average target price of $235.25.

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.