Intrepid Financial Planning Group LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,819 shares of the iPhone maker's stock after selling 2,110 shares during the period. Apple accounts for approximately 4.2% of Intrepid Financial Planning Group LLC's holdings, making the stock its 6th biggest position. Intrepid Financial Planning Group LLC's holdings in Apple were worth $9,744,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Bull Oak Capital LLC boosted its holdings in Apple by 252.3% in 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 in the last quarter. Hershey Financial Advisers LLC purchased a new stake in Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of Apple by 88.9% in 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 in the last quarter. ARK Investment Management LLC purchased a new position in shares of Apple in the third quarter worth $110,000. Finally, Cordant Inc. lifted its holdings in shares of Apple by 34.3% during the third 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. 67.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
AAPL has been the subject of several research analyst reports. Citigroup boosted their target price on Apple to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Needham & Company LLC reissued a "buy" rating and set a $260.00 price objective on shares of Apple in a report on Tuesday, December 10th. Moffett Nathanson restated a "sell" rating and issued a $188.00 target price (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Raymond James boosted their target price on shares of Apple to $250.00 and gave the company a "buy" rating in a research note on Monday. Finally, Rosenblatt Securities raised their price target on Apple from $261.00 to $262.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $239.85.
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Apple Price Performance
AAPL traded up $1.72 during trading on Monday, reaching $229.98. 68,239,505 shares of the company traded hands, compared to its average volume of 41,481,172. The company has a market cap of $3.48 trillion, a P/E ratio of 37.83, a PEG ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The firm has a fifty day simple moving average of $241.01 and a 200 day simple moving average of $230.79.
Apple (NASDAQ:AAPL - Get Free Report) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company 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%. Apple's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $1.46 earnings per share. On average, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current 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 given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple's dividend payout ratio is currently 16.45%.
Insider Activity at Apple
In other Apple news, insider Chris Kondo sold 4,130 shares of Apple 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 completion of the transaction, the insider now directly owns 15,419 shares of the company's stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the transaction, the chief operating officer now directly owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
Apple Profile
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Free Report)
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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