Apple Inc. (NASDAQ:AAPL) Shares Sold by White Pine Investment CO

White Pine Investment CO lowered its stake in Apple Inc. (NASDAQ:AAPLFree Report) by 1.2% during the third quarter, Holdings Channel reports. The firm owned 44,540 shares of the iPhone maker’s stock after selling 548 shares during the period. Apple makes up approximately 2.7% of White Pine Investment CO’s investment portfolio, making the stock its 9th biggest position. White Pine Investment CO’s holdings in Apple were worth $7,626,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. IFM Investors Pty Ltd boosted its stake in Apple by 20.0% in the first quarter. IFM Investors Pty Ltd now owns 2,615,701 shares of the iPhone maker’s stock valued at $456,728,000 after buying an additional 435,891 shares in the last quarter. Ironwood Wealth Management LLC. boosted its stake in Apple by 0.4% in the first quarter. Ironwood Wealth Management LLC. now owns 240,628 shares of the iPhone maker’s stock valued at $42,016,000 after buying an additional 1,040 shares in the last quarter. Markel Corp boosted its stake in Apple by 0.7% in the first quarter. Markel Corp now owns 1,206,990 shares of the iPhone maker’s stock valued at $210,752,000 after buying an additional 8,450 shares in the last quarter. Camden Capital LLC boosted its stake in Apple by 9.2% in the first quarter. Camden Capital LLC now owns 156,364 shares of the iPhone maker’s stock valued at $27,305,000 after buying an additional 13,200 shares in the last quarter. Finally, Harbor Island Capital LLC boosted its stake in Apple by 0.3% in the first quarter. Harbor Island Capital LLC now owns 135,325 shares of the iPhone maker’s stock valued at $23,629,000 after buying an additional 400 shares in the last quarter. Institutional investors own 58.51% of the company’s stock.

Apple Trading Up 0.9 %

NASDAQ AAPL opened at $189.30 on Wednesday. The company has a market cap of $2.93 trillion, a price-to-earnings ratio of 29.49, a P/E/G ratio of 2.23 and a beta of 1.31. Apple Inc. has a 52 week low of $143.90 and a 52 week high of $199.62. The business has a 50 day moving average price of $190.59 and a 200-day moving average price of $184.14. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 1.28.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 EPS for the quarter, beating the consensus estimate of $2.09 by $0.09. The firm had revenue of $119.60 billion during the quarter, compared to the consensus estimate of $117.99 billion. Apple had a return on equity of 156.04% and a net margin of 26.16%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.88 earnings per share. As a group, equities analysts expect that Apple Inc. will post 6.57 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 12th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.51%. Apple’s payout ratio is 14.95%.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,806 shares of Apple stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $184.04, for a total transaction of $884,496.24. Following the transaction, the insider now owns 34,687 shares of the company’s stock, valued at $6,383,795.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Katherine L. Adams sold 123,448 shares of Apple stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $188.79, for a total transaction of $23,305,747.92. Following the transaction, the senior vice president now owns 293,266 shares of the company’s stock, valued at $55,365,688.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chris Kondo sold 4,806 shares of Apple stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $184.04, for a total value of $884,496.24. Following the transaction, the insider now directly owns 34,687 shares in the company, valued at approximately $6,383,795.48. The disclosure for this sale can be found here. Insiders have sold a total of 133,767 shares of company stock valued at $25,248,740 over the last 90 days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Apple in a research note on Friday, February 2nd. Jefferies Financial Group cut their price target on Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Piper Sandler Companies lowered Apple to a “neutral” rating and cut their price target for the company from $220.00 to $205.00 in a research note on Thursday, January 4th. Monness Crespi & Hardt lifted their price target on Apple from $189.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Barclays cut their price target on Apple from $160.00 to $158.00 and set an “underweight” rating on the stock in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $205.72.

View Our Latest Research Report on AAPL

Apple Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. 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

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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