Apple Inc. (NASDAQ:AAPL) Stake Reduced by Capital Advantage Inc.

Capital Advantage Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,928 shares of the iPhone maker’s stock after selling 2,090 shares during the period. Apple comprises about 2.1% of Capital Advantage Inc.’s holdings, making the stock its 17th biggest holding. Capital Advantage Inc.’s holdings in Apple were worth $9,918,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of AAPL. IFM Investors Pty Ltd raised its position in Apple by 20.0% during 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 during the period. Ironwood Wealth Management LLC. raised its position in Apple by 0.4% during 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 during the period. Markel Corp raised its position in Apple by 0.7% during 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 during the period. Camden Capital LLC raised its position in Apple by 9.2% during 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 during the period. Finally, Harbor Island Capital LLC raised its position in Apple by 0.3% during 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 during the period. 58.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 123,448 shares of the firm’s stock in a transaction 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Katherine L. Adams sold 123,448 shares of the firm’s stock in a transaction 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Chris Kondo sold 5,513 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $192.00, for a total value of $1,058,496.00. Following the sale, the insider now directly owns 29,174 shares of the company’s stock, valued at $5,601,408. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AAPL. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Apple in a research report on Friday, February 2nd. Morgan Stanley upped their target price on Apple from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, December 8th. Piper Sandler dropped their target price on Apple from $205.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Bank of America raised Apple from a “neutral” rating to a “buy” rating and upped their target price for the stock from $208.00 to $225.00 in a research report on Thursday, January 18th. Finally, Jefferies Financial Group dropped their target price on Apple from $220.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.72.

Check Out Our Latest Stock Analysis on AAPL

Apple Trading Up 0.4 %

Shares of AAPL opened at $188.85 on Friday. Apple Inc. has a 1 year low of $143.90 and a 1 year high of $199.62. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. The stock has a 50 day simple moving average of $190.51 and a 200-day simple moving average of $184.12. The stock has a market cap of $2.92 trillion, a PE ratio of 29.42, a PEG ratio of 2.27 and a beta of 1.31.

Apple (NASDAQ:AAPLGet Free Report) last issued its earnings results on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.09. Apple had a return on equity of 156.04% and a net margin of 26.16%. The business had revenue of $119.60 billion during the quarter, compared to analysts’ expectations of $117.99 billion. During the same period in the prior year, the firm posted $1.88 EPS. Apple’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Apple Inc. will post 6.56 EPS for the current fiscal year.

Apple Dividend Announcement

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

Further Reading

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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