Corundum Group Inc. Reduces Position in Apple Inc. (NASDAQ:AAPL)

Corundum Group Inc. trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,685 shares of the iPhone maker’s stock after selling 1,652 shares during the period. Apple makes up 3.3% of Corundum Group Inc.’s portfolio, making the stock its 10th biggest holding. Corundum Group Inc.’s holdings in Apple were worth $6,678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AAPL. Caliber Wealth Management LLC increased its stake in Apple by 4.3% during the third quarter. Caliber Wealth Management LLC now owns 16,457 shares of the iPhone maker’s stock valued at $2,818,000 after acquiring an additional 680 shares during the period. Johnson & White Wealth Management LLC acquired a new position in shares of Apple in the third quarter valued at $3,423,000. Sage Financial Group Inc. bought a new position in Apple in the third quarter worth $239,000. NatWest Group plc boosted its stake in Apple by 3.7% during the third quarter. NatWest Group plc now owns 94,911 shares of the iPhone maker’s stock worth $16,250,000 after buying an additional 3,362 shares in the last quarter. Finally, Moody National Bank Trust Division increased its holdings in Apple by 10.9% in the 3rd quarter. Moody National Bank Trust Division now owns 310,035 shares of the iPhone maker’s stock valued at $53,081,000 after buying an additional 30,449 shares during the period. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

Apple stock opened at $169.30 on Friday. The company has a market cap of $2.61 trillion, a PE ratio of 26.37, a PEG ratio of 2.04 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 1.28. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $199.62. The company’s 50-day moving average is $173.04 and its two-hundred day moving average is $181.79.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, February 1st. The iPhone maker reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.09. Apple had a net margin of 26.16% and a return on equity of 156.04%. The business had revenue of $119.60 billion for the quarter, compared to analyst estimates of $117.99 billion. During the same period in the prior year, the business posted $1.88 earnings per share. Apple’s revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 6.54 earnings per share for the current year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 12th were given a $0.24 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.96 annualized dividend and a dividend yield of 0.57%. Apple’s dividend payout ratio is currently 14.95%.

Insider Buying and Selling

In other Apple news, CFO Luca Maestri sold 53,194 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $174.12, for a total transaction of $9,262,139.28. Following the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $18,768,046.56. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Luca Maestri sold 53,194 shares of the stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $174.12, for a total value of $9,262,139.28. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $18,768,046.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 59,162 shares of Apple stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $172.22, for a total transaction of $10,188,879.64. Following the transaction, the chief operating officer now directly owns 489,944 shares in the company, valued at approximately $84,378,155.68. The disclosure for this sale can be found here. Insiders sold a total of 366,271 shares of company stock valued at $63,653,887 over the last three months. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AAPL shares. The Goldman Sachs Group raised their price objective on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Redburn Atlantic downgraded Apple from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a report on Wednesday, January 10th. DZ Bank reissued a “hold” rating and issued a $180.00 target price on shares of Apple in a report on Thursday, March 28th. Barclays reaffirmed an “underweight” rating and issued a $158.00 price target on shares of Apple in a research note on Tuesday. Finally, UBS Group reiterated a “hold” rating and set a $190.00 price objective on shares of Apple in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $203.05.

Apple Company Profile

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.