Corrado Advisors LLC increased its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 11.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,595 shares of the iPhone maker’s stock after buying an additional 261 shares during the quarter. Corrado Advisors LLC’s holdings in Apple were worth $605,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. High Net Worth Advisory Group LLC lifted its position in Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares during the last quarter. Granite Investment Partners LLC lifted its holdings in shares of Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp increased its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC raised its position in Apple by 3.8% in the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after purchasing an additional 2,565 shares during the period. Finally, Silicon Valley Capital Partners lifted its stake in Apple by 12.8% during the third quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after purchasing an additional 28,799 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.
Insider Activity at Apple
In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
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Apple Trading Down 0.5 %
NASDAQ:AAPL opened at $233.28 on Wednesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The business has a 50 day simple moving average of $240.63 and a 200 day simple moving average of $230.52. The firm has a market capitalization of $3.53 trillion, a P/E ratio of 38.37, a P/E/G ratio of 2.41 and a beta of 1.20.
Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.46 EPS. Equities research analysts predict that Apple Inc. will post 7.43 EPS for the current year.
Apple Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is currently 16.45%.
Apple 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.
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