Sage Financial Management Group Inc. Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Sage Financial Management Group Inc. cut its holdings in Apple Inc. (NASDAQ:AAPLGet Rating) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,483 shares of the iPhone maker’s stock after selling 200 shares during the quarter. Apple comprises approximately 0.5% of Sage Financial Management Group Inc.’s portfolio, making the stock its 19th largest holding. Sage Financial Management Group Inc.’s holdings in Apple were worth $620,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Calamos Wealth Management LLC raised its stake in shares of Apple by 5.2% during the third quarter. Calamos Wealth Management LLC now owns 576,501 shares of the iPhone maker’s stock worth $79,672,000 after purchasing an additional 28,568 shares during the last quarter. Calamos Advisors LLC increased its stake in Apple by 0.4% in the 3rd quarter. Calamos Advisors LLC now owns 6,149,088 shares of the iPhone maker’s stock valued at $849,804,000 after buying an additional 25,806 shares during the period. Landmark Wealth Management LLC purchased a new position in Apple during the 3rd quarter worth $1,232,000. Monte Financial Group LLC lifted its stake in shares of Apple by 4.5% in the 3rd quarter. Monte Financial Group LLC now owns 12,309 shares of the iPhone maker’s stock worth $1,701,000 after acquiring an additional 526 shares during the period. Finally, Trust Co. of Vermont boosted its holdings in shares of Apple by 20.4% in the third quarter. Trust Co. of Vermont now owns 558,220 shares of the iPhone maker’s stock valued at $77,146,000 after acquiring an additional 94,707 shares in the last quarter. 57.60% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Up 0.0 %

AAPL opened at $135.27 on Friday. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $179.61. The business has a 50-day moving average of $138.95 and a two-hundred day moving average of $148.10. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.88 and a quick ratio of 0.85. The stock has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24.

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

Apple Dividend Announcement

The company also recently announced 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 0.68%. The ex-dividend date was Friday, November 4th. Apple’s payout ratio is currently 15.06%.

Insider Buying and Selling at Apple

In other news, CFO Luca Maestri sold 176,299 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 110,673 shares of the company’s stock, valued at approximately $17,259,454.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 completion of the transaction, the insider now owns 31,505 shares in the company, valued at approximately $4,685,423.60. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays reduced their price objective on shares of Apple from $144.00 to $133.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 11th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research report on Saturday, November 5th. Credit Suisse Group restated a “buy” rating and set a $184.00 target price on shares of Apple in a research report on Wednesday. DA Davidson cut their price target on shares of Apple to $167.00 in a report on Thursday, December 1st. Finally, Sanford C. Bernstein dropped their target price on shares of Apple from $170.00 to $125.00 in a report on Monday, January 9th. Two analysts have rated the stock with a sell rating, seven have assigned 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 presently has an average rating of “Moderate Buy” and a consensus target price of $170.04.

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; 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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