Apple Inc. (NASDAQ:AAPL) Shares Sold by Quantum Private Wealth LLC

Quantum Private Wealth LLC decreased its stake in Apple Inc. (NASDAQ:AAPL) by 2.5% in the 3rd quarter, Holdings Channel reports. The firm owned 119,037 shares of the iPhone maker’s stock after selling 3,001 shares during the quarter. Apple accounts for approximately 9.4% of Quantum Private Wealth LLC’s portfolio, making the stock its biggest position. Quantum Private Wealth LLC’s holdings in Apple were worth $27,736,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Granite Investment Partners LLC increased its holdings in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares in the last quarter. Truist Financial Corp increased its holdings in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after acquiring 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 valued at $406,099,000 after acquiring an additional 95,235 shares in the last quarter. GAMMA Investing LLC increased its holdings in Apple by 34.9% during the 3rd quarter. GAMMA Investing LLC now owns 200,214 shares of the iPhone maker’s stock valued at $46,650,000 after acquiring an additional 51,842 shares in the last quarter. Finally, Bellwether Advisors LLC increased its holdings in Apple by 387.3% during the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after acquiring an additional 19,352 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Trading Down 0.1 %

NASDAQ AAPL opened at $234.93 on Thursday. The company’s fifty day simple moving average is $228.71 and its 200-day simple moving average is $219.12. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $237.49. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.55 trillion, a P/E ratio of 38.64, a PEG ratio of 2.28 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. Equities research analysts predict 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. Investors 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 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the sale, the insider now 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. Over the last quarter, 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 equities research analysts have recently commented on AAPL shares. UBS Group lifted their price target on shares of Apple to $236.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Melius Research reissued a “buy” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Morgan Stanley reissued an “overweight” rating and issued a $273.00 target price on shares of Apple in a research report on Monday. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research report on Friday, October 25th. Finally, Rosenblatt Securities raised their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $235.25.

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.