Apple Inc. (NASDAQ:AAPL) Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 440,517 shares of the iPhone maker’s stock after selling 10,651 shares during the period. Apple accounts for approximately 7.4% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Apple were worth $60,227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CFS Investment Advisory Services LLC raised its holdings in Apple by 18,263.5% during the first quarter. CFS Investment Advisory Services LLC now owns 7,457,053 shares of the iPhone maker’s stock worth $47,000 after purchasing an additional 7,416,445 shares in the last quarter. Spence Asset Management bought a new stake in Apple during the second quarter worth approximately $49,000. HBC Financial Services PLLC raised its holdings in Apple by 21.7% during the first quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares in the last quarter. Emerson Wealth LLC raised its holdings in Apple by 27.0% during the second quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock worth $71,000 after purchasing an additional 110 shares in the last quarter. Finally, Darrow Company Inc. bought a new stake in Apple during the second quarter worth approximately $107,000. Institutional investors own 57.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AAPL. Monness Crespi & Hardt began coverage on Apple in a report on Thursday, September 8th. They set a “buy” rating and a $174.00 target price on the stock. Fundamental Research upped their price target on Apple to $168.50 and gave the company a “buy” rating in a report on Tuesday, November 8th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a report on Saturday, November 5th. Credit Suisse Group set a $184.00 price target on Apple in a report on Thursday, November 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $170.00 price target on shares of Apple in a report on Tuesday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $176.26.

Apple Trading Up 0.6 %

Shares of NASDAQ:AAPL opened at $151.07 on Thursday. The stock has a market capitalization of $2.40 trillion, a PE ratio of 24.73, a P/E/G ratio of 1.89 and a beta of 1.25. Apple Inc. has a 1 year low of $129.04 and a 1 year high of $182.94. The firm has a fifty day moving average price of $146.70 and a 200 day moving average price of $149.66. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The firm had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. Apple’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. Analysts expect that Apple Inc. will post 6.26 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s dividend payout ratio is presently 15.06%.

Insider Buying and Selling

In other Apple news, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the completion of the transaction, the senior vice president now owns 136,290 shares of the company’s stock, valued at approximately $19,414,510.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Apple news, insider Chris Kondo sold 20,200 shares of the business’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the completion of the transaction, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 8,053 shares of the business’s stock in a transaction on Monday, October 17th. The stock was sold at an average price of $142.45, for a total transaction of $1,147,149.85. Following the transaction, the senior vice president now directly owns 136,290 shares of the company’s stock, valued at approximately $19,414,510.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 380,851 shares of company stock worth $56,707,789. Corporate insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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