Arcus Capital Partners LLC Sells 844 Shares of Apple Inc. (NASDAQ:AAPL)

Arcus Capital Partners LLC lowered its holdings in shares of Apple Inc. (NASDAQ:AAPLGet Rating) by 19.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,402 shares of the iPhone maker’s stock after selling 844 shares during the quarter. Arcus Capital Partners LLC’s holdings in Apple were worth $470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealthspire Advisors LLC raised its holdings in Apple by 42.8% in the 2nd quarter. Wealthspire Advisors LLC now owns 299,829 shares of the iPhone maker’s stock worth $40,993,000 after acquiring an additional 89,865 shares during the period. Emerald Advisors LLC raised its holdings in Apple by 2.4% in the 2nd quarter. Emerald Advisors LLC now owns 19,905 shares of the iPhone maker’s stock worth $2,721,000 after acquiring an additional 465 shares during the period. Eagle Bay Advisors LLC raised its holdings in Apple by 35.7% in the 2nd quarter. Eagle Bay Advisors LLC now owns 25,608 shares of the iPhone maker’s stock worth $3,501,000 after acquiring an additional 6,735 shares during the period. Callan Capital LLC raised its holdings in Apple by 1.6% in the 2nd quarter. Callan Capital LLC now owns 85,226 shares of the iPhone maker’s stock worth $11,652,000 after acquiring an additional 1,322 shares during the period. Finally, Sageworth Trust Co raised its holdings in Apple by 150.3% in the 2nd quarter. Sageworth Trust Co now owns 5,798 shares of the iPhone maker’s stock worth $793,000 after acquiring an additional 3,482 shares during the period. Institutional investors own 57.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AAPL. Oppenheimer dropped their target price on shares of Apple from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, December 12th. Needham & Company LLC restated a “buy” rating and issued a $170.00 price target on shares of Apple in a research report on Tuesday, November 8th. National Bank Financial decreased their price target on shares of Apple to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 20th. BNP Paribas lowered shares of Apple from an “outperform” rating to a “neutral” rating and set a $140.00 price target on the stock. in a research report on Tuesday, January 3rd. Finally, UBS Group set a $180.00 price target on shares of Apple in a research report on Monday. Two 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.44.

Apple Stock Up 1.0 %

Shares of NASDAQ:AAPL opened at $142.53 on Wednesday. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $179.61. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.85 and a current ratio of 0.88. The company has a market capitalization of $2.26 trillion, a PE ratio of 23.33, a PEG ratio of 1.78 and a beta of 1.24. The company has a 50 day moving average price of $138.42 and a two-hundred day moving average price of $148.11.

Apple (NASDAQ:AAPLGet Rating) last announced its 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. Apple had a net margin of 25.31% and a return on equity of 160.90%. The business had revenue of $90.15 billion during the quarter, compared to analysts’ expectations of $88.77 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. 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. Stockholders of record on Monday, November 7th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Friday, November 4th. Apple’s payout ratio is presently 15.06%.

Insider Activity

In other news, CFO Luca Maestri sold 176,299 shares of the stock in a transaction dated Friday, October 28th. The shares were 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 of the company’s stock, valued at $17,259,454.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Chris Kondo sold 20,200 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly 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 is available through this hyperlink. Also, 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 transaction of $27,493,829.05. Following the transaction, the chief financial officer now directly owns 110,673 shares in the company, valued at $17,259,454.35. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Company Profile

(Get Rating)

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other varieties of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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