Apple Inc. (NASDAQ:AAPL) Stock Position Cut by Sage Rhino Capital LLC

Sage Rhino Capital LLC cut its position in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 0.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 61,171 shares of the iPhone maker’s stock after selling 373 shares during the quarter. Apple makes up 3.4% of Sage Rhino Capital LLC’s portfolio, making the stock its 8th largest holding. Sage Rhino Capital LLC’s holdings in Apple were worth $8,454,000 as of its most recent SEC filing.

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

Apple Trading Up 1.9 %

Apple stock opened at $137.87 on Monday. The stock has a market cap of $2.18 trillion, a P/E ratio of 22.56, a PEG ratio of 1.78 and a beta of 1.24. Apple Inc. has a fifty-two week low of $124.17 and a fifty-two week high of $179.61. The firm’s fifty day moving average price is $138.72 and its 200-day moving average price is $148.18. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88.

Apple (NASDAQ:AAPLGet Rating) last released its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.03. The firm had revenue of $90.15 billion for 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%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Equities research analysts forecast that Apple Inc. will post 6.19 earnings per share for the current fiscal 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 paid a $0.23 dividend. The ex-dividend date was Friday, November 4th. This represents a $0.92 dividend on an annualized basis and a yield of 0.67%. Apple’s dividend payout ratio is presently 15.06%.

Insider Activity at Apple

In related news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction 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 transaction, 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 SEC, which can be accessed through this hyperlink. In related news, insider Chris Kondo sold 20,200 shares of the stock in a transaction 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 of the company’s stock, valued at $4,685,423.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 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. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AAPL. National Bank Financial decreased their target price on Apple to $54.00 and set an “outperform” rating for the company in a research report on Friday. Bank of America decreased their price objective on Apple from $160.00 to $154.00 and set a “neutral” rating for the company in a report on Monday, November 7th. Morgan Stanley decreased their price objective on Apple from $177.00 to $175.00 and set an “overweight” rating for the company in a report on Tuesday, November 8th. Credit Suisse Group reissued a “buy” rating and set a $184.00 price objective on shares of Apple in a report on Wednesday, January 18th. Finally, BNP Paribas lowered Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price objective for the company. in a report on Tuesday, January 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $166.73.

Apple 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.

See Also

Want to see what other hedge funds are holding AAPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Apple Inc. (NASDAQ:AAPLGet Rating).

Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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