Apple Inc. (NASDAQ:AAPL) is MTM Investment Management LLC's 2nd Largest Position

MTM Investment Management LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,070 shares of the iPhone maker's stock after selling 2,465 shares during the period. Apple comprises approximately 4.4% of MTM Investment Management LLC's investment portfolio, making the stock its 2nd biggest holding. MTM Investment Management LLC's holdings in Apple were worth $11,355,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bull Oak Capital LLC raised its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc increased its stake in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after purchasing an additional 144 shares during the period. ARK Investment Management LLC bought a new stake in Apple in the 3rd quarter valued at $110,000. Finally, Cordant Inc. grew its holdings in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock valued at $158,000 after buying an additional 173 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the 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 completion of the sale, the chief operating officer now directly owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.06% of the company's stock.

Analyst Ratings Changes

AAPL has been the subject of several analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $225.00 price objective on shares of Apple in a research note on Wednesday, October 9th. UBS Group reiterated a "neutral" rating and issued a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Rosenblatt Securities reissued a "buy" rating and set a $262.00 price target on shares of Apple in a research report on Monday. TD Cowen reaffirmed a "buy" rating on shares of Apple in a report on Tuesday. Finally, Bank of America reissued a "buy" rating and set a $253.00 target price (down from $256.00) on shares of Apple in a report on Friday, January 24th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple presently has an average rating of "Moderate Buy" and an average price target of $238.05.

Apple Stock Down 0.7 %

NASDAQ AAPL traded down $1.74 on Thursday, hitting $237.62. 32,786,231 shares of the company were exchanged, compared to its average volume of 56,478,961. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.57 trillion, a PE ratio of 39.08, a PEG ratio of 2.19 and a beta of 1.20. The stock has a fifty day moving average of $241.37 and a 200-day moving average of $230.81. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating the consensus estimate 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 EPS. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

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.