Stolper Co Has $14.32 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Stolper Co reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.7% in the third quarter, Holdings Channel.com reports. The fund owned 61,472 shares of the iPhone maker’s stock after selling 1,700 shares during the period. Apple makes up approximately 4.7% of Stolper Co’s portfolio, making the stock its 2nd biggest position. Stolper Co’s holdings in Apple were worth $14,323,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AAPL. Hershey Financial Advisers LLC bought a new position in shares of Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc boosted its holdings in shares of Apple by 88.9% in 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 period. Hoese & Co LLP boosted its holdings in shares of Apple by 6.7% in the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after acquiring an additional 57 shares during the period. Sage Financial Group Inc. bought a new position in shares of Apple in the second quarter worth $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple in the second quarter worth $208,000. 60.41% of the stock is owned by institutional investors.

Apple Stock Down 0.1 %

AAPL opened at $234.93 on Friday. The company has a market cap of $3.55 trillion, a P/E ratio of 38.64, a P/E/G ratio of 2.28 and a beta of 1.24. The business’s 50-day moving average price is $228.83 and its 200-day moving average price is $219.23. 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 Inc. has a 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $1.46 earnings per share. On average, equities analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced 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 was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s payout ratio is presently 16.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AAPL. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Citigroup increased their price objective on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a research report on Tuesday, September 10th. Bank of America reiterated a “buy” rating and issued a $256.00 price objective on shares of Apple in a research report on Thursday, October 3rd. Finally, Moffett Nathanson lowered their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was 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 of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the sale, the chief operating officer now directly owns 489,944 shares in the company, valued at $111,148,695.84. The trade was a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 over the last ninety days. 0.06% of the stock is owned by insiders.

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.