Apple Inc. (NASDAQ:AAPL) is Cutter & CO Brokerage Inc.'s 9th Largest Position

Cutter & CO Brokerage Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 6.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 33,669 shares of the iPhone maker's stock after selling 2,135 shares during the period. Apple makes up approximately 1.8% of Cutter & CO Brokerage Inc.'s holdings, making the stock its 9th largest holding. Cutter & CO Brokerage Inc.'s holdings in Apple were worth $7,845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bull Oak Capital LLC increased its position in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in Apple during the 2nd quarter valued at approximately $42,000. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% during the 3rd 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 last quarter. Cordant Inc. raised its position in shares of 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 purchasing an additional 173 shares in the last quarter. Finally, Sage Financial Group Inc. purchased a new position in shares of Apple during the 2nd quarter valued at approximately $206,000. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Price Performance

Shares of Apple stock traded down $3.39 on Monday, hitting $252.20. The company had a trading volume of 35,435,137 shares, compared to its average volume of 57,203,777. Apple Inc. has a 52 week low of $164.07 and a 52 week 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 company has a market cap of $3.81 trillion, a PE ratio of 41.48, a PEG ratio of 2.41 and a beta of 1.23. The business has a 50-day simple moving average of $237.41 and a 200-day simple moving average of $227.89.

Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly 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. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the company posted $1.46 EPS. The firm's quarterly revenue was up 6.1% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple's payout ratio is currently 16.45%.

Analyst Ratings Changes

AAPL has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $260.00 price target on shares of Apple in a report on Tuesday, December 10th. Loop Capital cut their target price on shares of Apple from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Rosenblatt Securities increased their price target on shares of Apple from $261.00 to $262.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Evercore ISI reissued a "buy" rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Finally, Moffett Nathanson reduced their target price on Apple from $211.00 to $202.00 and set a "neutral" rating on the stock in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $237.47.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % 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 company'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 sale, the insider now directly owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 508,170 shares of company stock worth $117,004,745. 0.06% of the stock is owned by corporate 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.