Independent Investors Inc. lowered its holdings in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.9% during the 3rd quarter, Holdings Channel reports. The firm owned 1,342,519 shares of the iPhone maker’s stock after selling 11,535 shares during the period. Apple makes up about 52.8% of Independent Investors Inc.’s investment portfolio, making the stock its largest holding. Independent Investors Inc.’s holdings in Apple were worth $185,536,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Bluestem Financial Advisors LLC increased its holdings in Apple by 5,935.2% during the second quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after buying an additional 229,929 shares during the last quarter. HBC Financial Services PLLC increased its stake in shares of Apple by 21.7% during the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock worth $49,000 after purchasing an additional 80 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Apple in the 2nd quarter worth approximately $55,000. Morgan Dempsey Capital Management LLC purchased a new position in Apple in the third quarter valued at approximately $55,000. Finally, Newfound Research LLC bought a new position in Apple during the third quarter valued at $67,000. Institutional investors own 57.60% of the company’s stock.
Insiders Place Their Bets
In other Apple news, insider Chris Kondo sold 20,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $148.72, for a total transaction of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares in the company, valued at approximately $4,685,423.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $155.95, for a total transaction of $27,493,829.05. Following the sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at $17,259,454.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.
Apple Trading Up 0.0 %
Apple (NASDAQ:AAPL – Get Rating) last announced its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. Apple had a return on equity of 160.90% and a net margin of 25.31%. The company had revenue of $90.15 billion during the quarter, compared to the consensus estimate of $88.77 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts forecast that Apple Inc. will post 6.19 earnings per share for the current year.
Apple Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Monday, November 7th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Friday, November 4th. Apple’s payout ratio is currently 15.06%.
Analysts Set New Price Targets
Several analysts have issued reports on the company. KeyCorp restated a “buy” rating and issued a $175.00 target price on shares of Apple in a research note on Tuesday, November 8th. JPMorgan Chase & Co. set a $180.00 price objective on shares of Apple and gave the company an “overweight” rating in a report on Thursday. Credit Suisse Group reiterated a “buy” rating and issued a $184.00 target price on shares of Apple in a research note on Wednesday. UBS Group set a $180.00 price target on shares of Apple in a research note on Thursday, January 12th. Finally, Oppenheimer reduced their price objective on shares of Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, December 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.04.
Apple Company Profile
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; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
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