Del Sette Capital Management LLC Lowers Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Del Sette Capital Management LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,593 shares of the iPhone maker’s stock after selling 1,216 shares during the period. Apple accounts for about 2.2% of Del Sette Capital Management LLC’s investment portfolio, making the stock its 15th biggest holding. Del Sette Capital Management LLC’s holdings in Apple were worth $1,879,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Apple by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,269,995,750 shares of the iPhone maker’s stock valued at $221,753,959,000 after purchasing an additional 8,734,393 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Apple by 2.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 237,910,783 shares of the iPhone maker’s stock valued at $32,527,162,000 after acquiring an additional 4,831,418 shares during the period. Legal & General Group Plc raised its position in shares of Apple by 8.2% in the 2nd quarter. Legal & General Group Plc now owns 123,534,393 shares of the iPhone maker’s stock worth $16,889,649,000 after acquiring an additional 9,411,018 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Apple by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 80,739,774 shares of the iPhone maker’s stock worth $14,097,970,000 after purchasing an additional 1,155,915 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Apple by 12.1% during the second quarter. UBS Asset Management Americas Inc. now owns 80,467,043 shares of the iPhone maker’s stock valued at $11,001,469,000 after purchasing an additional 8,716,964 shares in the last quarter. Hedge funds and other institutional investors own 57.60% of the company’s stock.

Insider Activity

In related news, CFO Luca Maestri sold 176,299 shares of the company’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 completion of the transaction, the chief financial officer now owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Chris Kondo sold 20,200 shares of the firm’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 value of $3,004,144.00. Following the transaction, the insider now owns 31,505 shares in the company, valued at $4,685,423.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $155.95, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several analyst reports. Bank Of America (Bofa) lowered shares of Apple from a “buy” rating to a “neutral” rating and decreased their price target for the company from $189.00 to $160.00 in a research report on Friday, September 30th. Bank of America decreased their target price on shares of Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. Fundamental Research lifted their price target on shares of Apple to $168.50 and gave the stock a “buy” rating in a report on Tuesday, November 8th. UBS Group set a $180.00 price objective on Apple in a report on Thursday, January 12th. Finally, Oppenheimer lowered their price objective on Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, December 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $170.04.

Apple Price Performance

Shares of Apple stock opened at $135.27 on Friday. The firm has a market cap of $2.14 trillion, a PE ratio of 22.14, a P/E/G ratio of 1.74 and a beta of 1.24. Apple Inc. has a twelve month low of $124.17 and a twelve month high of $179.61. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 1.95. The business has a 50-day moving average price of $138.95 and a 200 day moving average price of $148.10.

Apple (NASDAQ:AAPLGet Rating) last posted its quarterly earnings data on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.03. The business had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. Apple had a return on equity of 160.90% and a net margin of 25.31%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 earnings per share. Sell-side analysts predict that Apple Inc. will post 6.19 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, November 7th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is 15.06%.

Apple Company Profile

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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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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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