Proffitt & Goodson Inc. Sells 605 Shares of Apple Inc. (NASDAQ:AAPL)

Proffitt & Goodson Inc. lowered its stake in Apple Inc. (NASDAQ:AAPLGet Rating) by 3.0% during the third quarter, HoldingsChannel.com reports. The firm owned 19,678 shares of the iPhone maker’s stock after selling 605 shares during the period. Apple makes up about 0.6% of Proffitt & Goodson Inc.’s holdings, making the stock its 28th biggest holding. Proffitt & Goodson Inc.’s holdings in Apple were worth $2,719,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Bluestem Financial Advisors LLC increased its holdings in Apple by 5,935.2% during the 2nd quarter. Bluestem Financial Advisors LLC now owns 233,803 shares of the iPhone maker’s stock worth $35,000 after purchasing an additional 229,929 shares in the last quarter. HBC Financial Services PLLC grew its holdings 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. Ramsey Quantitative Systems bought a new position in shares of Apple in the 2nd quarter valued at about $55,000. Morgan Dempsey Capital Management LLC bought a new position in Apple during the third quarter worth about $55,000. Finally, Newfound Research LLC bought a new position in Apple during the third quarter worth about $67,000. Institutional investors and hedge funds own 57.60% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of several research reports. Wedbush cut their price objective on shares of Apple from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, January 4th. Barclays dropped 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 report on Wednesday, January 11th. Oppenheimer lowered their price objective on shares of Apple from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, December 12th. National Bank Financial decreased their target price on shares of Apple to $54.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, DA Davidson decreased their target price on shares of Apple to $167.00 in a research note on Thursday, December 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.73.

Insiders Place Their Bets

In other Apple news, 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 directly owns 31,505 shares of the company’s stock, valued at approximately $4,685,423.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Luca Maestri sold 176,299 shares of Apple stock in a transaction 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 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 currently owned by insiders.

Apple Trading Up 1.9 %

NASDAQ AAPL opened at $137.87 on Monday. The company’s 50-day moving average price is $138.72 and its 200-day moving average price is $148.18. 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 stock has a market cap of $2.18 trillion, a PE ratio of 22.56, a PEG ratio of 1.78 and a beta of 1.24. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $179.61.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, October 27th. The iPhone maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.03. Apple had a net margin of 25.31% and a return on equity of 160.90%. The company had revenue of $90.15 billion for the quarter, compared to analysts’ expectations of $88.77 billion. During the same period in the prior year, the business earned $1.24 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that Apple Inc. will post 6.19 earnings per share for the current 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 of this dividend was Friday, November 4th. Apple’s payout ratio is currently 15.06%.

About Apple

(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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