Clay Northam Wealth Management LLC Sells 107 Shares of Apple Inc. (NASDAQ:AAPL)

Clay Northam Wealth Management LLC lowered its position in Apple Inc. (NASDAQ:AAPL – Get Rating) by 0.2% during the third quarter, Holdings Channel reports. The firm owned 57,430 shares of the iPhone maker’s stock after selling 107 shares during the period. Apple comprises 9.9% of Clay Northam Wealth Management LLC’s portfolio, making the stock its 2nd largest holding. Clay Northam Wealth Management LLC’s holdings in Apple were worth $7,937,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Ramsey Quantitative Systems bought a new stake in shares of Apple in the 2nd quarter valued at $55,000. Morgan Dempsey Capital Management LLC bought a new stake in shares of Apple in the 3rd quarter valued at $55,000. HBC Financial Services PLLC increased its stake in shares of Apple by 21.7% in the 1st quarter. HBC Financial Services PLLC now owns 448 shares of the iPhone maker’s stock valued at $49,000 after acquiring an additional 80 shares in the last quarter. Newfound Research LLC bought a new stake in shares of Apple in the 3rd quarter valued at $67,000. Finally, Emerson Wealth LLC increased its stake in shares of Apple by 27.0% in the 2nd quarter. Emerson Wealth LLC now owns 518 shares of the iPhone maker’s stock valued at $71,000 after acquiring an additional 110 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.

Insider Buying and Selling

In related news, insider Chris Kondo sold 20,200 shares of the company’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 value of $3,004,144.00. Following the transaction, the insider now directly 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 can be accessed through the SEC website. In related news, insider Chris Kondo sold 20,200 shares of the company’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 value of $3,004,144.00. Following the transaction, the insider now directly 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 can be accessed through the SEC website. Also, CFO Luca Maestri sold 176,299 shares of the company’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 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 $17,259,454.35. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Trading Up 1.9 %

Shares of Apple stock opened at $137.87 on Monday. Apple Inc. has a 12-month low of $124.17 and a 12-month high of $179.61. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.78 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 1.95. The company’s 50-day moving average price is $138.72 and its 200-day moving average price is $148.18.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The firm had revenue of $90.15 billion for the quarter, compared to the consensus estimate of $88.77 billion. During the same period in the prior year, the firm posted $1.24 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts expect 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. Investors of record on Monday, November 7th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, November 4th. Apple’s dividend payout ratio (DPR) is 15.06%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AAPL. Rosenblatt Securities lowered their price objective on shares of Apple from $189.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, January 13th. Barclays decreased their price target on shares of Apple from $144.00 to $133.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 11th. Wedbush decreased their price target on shares of Apple from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, January 4th. Needham & Company LLC restated a “buy” rating and set a $170.00 price target on shares of Apple in a research note on Tuesday, November 8th. Finally, Canaccord Genuity Group decreased their price target on shares of Apple from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Wednesday, January 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average 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.