Capital Market Strategies LLC Sells 2,963 Shares of Apple Inc. (NASDAQ:AAPL)

Capital Market Strategies LLC cut its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,932 shares of the iPhone maker's stock after selling 2,963 shares during the quarter. Apple comprises about 9.1% of Capital Market Strategies LLC's investment portfolio, making the stock its 2nd biggest position. Capital Market Strategies LLC's holdings in Apple were worth $15,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of AAPL. Granite Investment Partners LLC lifted its position in Apple by 2.7% during 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 lifted its stake in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock worth $1,473,224,000 after buying an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker's stock worth $406,099,000 after acquiring an additional 95,235 shares during the period. Bellwether Advisors LLC increased its position in Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker's stock valued at $5,128,000 after acquiring an additional 19,352 shares during the period. Finally, Gentry Private Wealth LLC bought a new position in Apple during the second quarter worth $876,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

Shares of NASDAQ AAPL traded down $1.27 during midday trading on Wednesday, hitting $227.01. 14,730,447 shares of the company's stock were exchanged, compared to its average volume of 58,315,543. The company's 50 day moving average price is $227.34 and its 200 day moving average price is $217.31. The firm has a market capitalization of $3.43 trillion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business posted $1.46 earnings per share. Apple's revenue was up 6.1% on a year-over-year basis. As a group, analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.44%. Apple's dividend payout ratio (DPR) is presently 16.45%.

Analyst Ratings Changes

Several equities research analysts have issued reports on AAPL shares. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Moffett Nathanson decreased their price target on Apple from $211.00 to $202.00 and set a "neutral" rating for the company in a report on Tuesday. Barclays cut their price objective on Apple from $186.00 to $184.00 and set an "underweight" rating on the stock in a research report on Friday, November 1st. StockNews.com cut shares of Apple from a "buy" rating to a "hold" rating in a report on Friday, November 1st. Finally, UBS Group lifted their price target on shares of Apple to $236.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Apple has an average rating of "Moderate Buy" and an average price target of $235.25.

Insider Activity

In other Apple news, insider Chris Kondo sold 4,130 shares of the company's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Luca Maestri sold 59,305 shares of the business's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the completion of the transaction, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 408,170 shares of company stock valued at $92,007,745 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

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.