Parthenon LLC Has $21.84 Million Position in Apple Inc. (NASDAQ:AAPL)

Parthenon LLC lowered its position in Apple Inc. (NASDAQ:AAPLFree Report) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 127,584 shares of the iPhone maker’s stock after selling 957 shares during the period. Apple makes up about 3.3% of Parthenon LLC’s portfolio, making the stock its 7th largest position. Parthenon LLC’s holdings in Apple were worth $21,844,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parker Financial LLC boosted its stake in shares of Apple by 1.2% in the second quarter. Parker Financial LLC now owns 4,543 shares of the iPhone maker’s stock valued at $881,000 after purchasing an additional 54 shares during the period. Mokosak Advisory Group LLC lifted its stake in Apple by 1.1% in the second quarter. Mokosak Advisory Group LLC now owns 5,562 shares of the iPhone maker’s stock worth $1,079,000 after acquiring an additional 59 shares during the last quarter. Kraft Davis & Associates LLC lifted its stake in Apple by 0.9% in the third quarter. Kraft Davis & Associates LLC now owns 6,716 shares of the iPhone maker’s stock worth $1,155,000 after acquiring an additional 59 shares during the last quarter. MKT Advisors LLC lifted its stake in Apple by 0.5% in the second quarter. MKT Advisors LLC now owns 12,269 shares of the iPhone maker’s stock worth $1,777,000 after acquiring an additional 60 shares during the last quarter. Finally, Cassia Capital Partners LLC lifted its stake in Apple by 1.2% in the third quarter. Cassia Capital Partners LLC now owns 5,209 shares of the iPhone maker’s stock worth $892,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 58.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. KeyCorp reissued a “sector weight” rating on shares of Apple in a report on Monday, October 30th. Redburn Partners cut shares of Apple to a “neutral” rating and set a $200.00 target price on the stock. in a report on Wednesday, January 10th. DA Davidson assumed coverage on shares of Apple in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $166.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $250.00 price objective on shares of Apple in a research report on Tuesday, January 30th. Finally, Barclays lowered their price objective on shares of Apple from $160.00 to $158.00 and set an “underweight” rating on the stock in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.72.

Get Our Latest Report on AAPL

Insider Buying and Selling

In related news, insider Chris Kondo sold 5,513 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the completion of the sale, the insider now owns 29,174 shares of the company’s stock, valued at approximately $5,601,408. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Chris Kondo sold 5,513 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total transaction of $1,058,496.00. Following the completion of the sale, the insider now owns 29,174 shares of the company’s stock, valued at approximately $5,601,408. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Katherine L. Adams sold 123,448 shares of the 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 sale, the senior vice president now directly owns 293,266 shares of the company’s stock, valued at approximately $55,365,688.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,767 shares of company stock valued at $25,248,740. 0.06% of the stock is currently owned by corporate insiders.

Apple Trading Up 0.1 %

NASDAQ AAPL opened at $189.41 on Thursday. Apple Inc. has a 12 month low of $143.90 and a 12 month high of $199.62. The company has a 50-day moving average of $190.59 and a 200-day moving average of $184.18. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.07 and a quick ratio of 1.02. The company has a market cap of $2.92 trillion, a P/E ratio of 29.50, a P/E/G ratio of 2.25 and a beta of 1.31.

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

Apple Dividend Announcement

The firm 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. This represents a $0.96 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Friday, February 9th. Apple’s dividend payout ratio (DPR) is presently 14.95%.

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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