Apple Inc. (NASDAQ:AAPL) Shares Sold by Platform Technology Partners

Platform Technology Partners trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 125,655 shares of the iPhone maker’s stock after selling 570 shares during the period. Apple makes up 9.9% of Platform Technology Partners’ portfolio, making the stock its biggest position. Platform Technology Partners’ holdings in Apple were worth $17,366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MKT Advisors LLC increased its position in Apple by 0.5% during the 2nd quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock valued at $1,777,000 after purchasing an additional 60 shares during the period. Your Advocates Ltd. LLP increased its position in Apple by 1.0% during the 2nd quarter. Your Advocates Ltd. LLP now owns 6,339 shares of the iPhone maker’s stock valued at $867,000 after purchasing an additional 65 shares during the period. Harbor Capital Advisors Inc. increased its position in Apple by 6.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 1,046 shares of the iPhone maker’s stock valued at $143,000 after purchasing an additional 66 shares during the period. Aufman Associates Inc increased its position in Apple by 0.9% during the 2nd quarter. Aufman Associates Inc now owns 7,674 shares of the iPhone maker’s stock valued at $1,049,000 after purchasing an additional 66 shares during the period. Finally, Lake Point Wealth Management increased its position in Apple by 1.7% during the 2nd quarter. Lake Point Wealth Management now owns 4,025 shares of the iPhone maker’s stock valued at $550,000 after purchasing an additional 67 shares during the period. 57.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 value of $3,004,144.00. Following the completion of the sale, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Apple news, insider Chris Kondo sold 20,200 shares of Apple 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 sale, the insider now owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction on Friday, October 28th. The stock was 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 directly owns 110,673 shares in the company, valued at approximately $17,259,454.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple Price Performance

NASDAQ:AAPL opened at $137.87 on Friday. 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 firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. The company has a 50 day moving average price of $138.72 and a 200-day moving average price of $148.09. Apple Inc. has a 1-year low of $124.17 and a 1-year high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 EPS for the quarter, topping the consensus estimate of $1.26 by $0.03. The company had revenue of $90.15 billion during the quarter, compared to analyst estimates of $88.77 billion. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 EPS. Equities research analysts forecast that Apple Inc. will post 6.19 EPS 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 issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Friday, November 4th. Apple’s payout ratio is presently 15.06%.

Analysts Set New Price Targets

A number of research analysts have commented on AAPL shares. Bank of America cut their target price on shares of Apple from $160.00 to $154.00 and set a “neutral” rating on the stock in a research report on Monday, November 7th. Bank Of America (Bofa) cut shares of Apple from a “buy” rating to a “neutral” rating and lowered their price target for the company from $189.00 to $160.00 in a report on Friday, September 30th. Needham & Company LLC restated a “buy” rating and issued a $170.00 price target on shares of Apple in a report on Tuesday, November 8th. National Bank Financial lowered their price target on shares of Apple to $54.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Sanford C. Bernstein lowered their price target on shares of Apple from $170.00 to $125.00 in a report on Monday, January 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.73.

About Apple

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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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