Dopkins Wealth Management LLC Cuts Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Dopkins Wealth Management LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 30.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,600 shares of the iPhone maker's stock after selling 4,661 shares during the period. Apple makes up about 2.0% of Dopkins Wealth Management LLC's portfolio, making the stock its 13th biggest position. Dopkins Wealth Management LLC's holdings in Apple were worth $2,470,000 as of its most recent filing with the Securities and Exchange Commission.

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

Apple Trading Down 3.2 %

AAPL opened at $222.64 on Wednesday. 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 stock has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 36.62, a PEG ratio of 2.25 and a beta of 1.20. The business has a fifty day moving average price of $241.12 and a 200 day moving average price of $230.85. 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 released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analysts' expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 EPS. Sell-side analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple's dividend payout ratio is presently 16.45%.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Sanford C. Bernstein upped their price objective on Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Barclays increased their target price on shares of Apple to $184.00 and gave the stock a "sell" rating in a research note on Friday, January 10th. Oppenheimer restated a "buy" rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a "buy" rating and set a $260.00 price target on shares of Apple in a research report on Tuesday. Finally, Bank of America reissued a "buy" rating and issued a $256.00 price target on shares of Apple in a research note on Friday, January 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $238.02.

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.