Prime Capital Investment Advisors LLC Has $188.36 Million Position in Apple Inc. (NASDAQ:AAPL)

Prime Capital Investment Advisors LLC trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 808,421 shares of the iPhone maker's stock after selling 16,756 shares during the period. Apple makes up 2.7% of Prime Capital Investment Advisors LLC's investment portfolio, making the stock its 4th largest holding. Prime Capital Investment Advisors LLC's holdings in Apple were worth $188,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AAPL. Bull Oak Capital LLC grew its stake in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the second quarter worth approximately $42,000. Christopher J. Hasenberg Inc grew 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 buying an additional 144 shares during the period. ARK Investment Management LLC bought a new stake in Apple during the third quarter valued at approximately $110,000. Finally, Cordant Inc. raised its position in Apple by 34.3% in the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock worth $158,000 after acquiring an additional 173 shares during the period. Institutional investors own 67.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AAPL shares. Needham & Company LLC reissued a "buy" rating and set a $260.00 price objective on shares of Apple in a research report on Tuesday, December 10th. Maxim Group boosted their price target on Apple from $203.00 to $215.00 and gave the company a "hold" rating in a report on Friday, November 1st. UBS Group reaffirmed a "neutral" rating and issued a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Raymond James boosted their price objective on Apple to $250.00 and gave the company a "buy" rating in a research note on Monday. Finally, KeyCorp cut shares of Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 target price on the stock. in a research note on Friday, October 25th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $239.85.

Apple Trading Up 0.8 %

Shares of NASDAQ:AAPL traded up $1.72 during trading on Monday, hitting $229.98. The company had a trading volume of 68,239,505 shares, compared to its average volume of 41,481,172. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 37.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. 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 fifty day simple moving average of $241.01 and a two-hundred day simple moving average of $230.79. Apple Inc. has a one year low of $164.07 and a one year high of $260.10.

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

Apple Dividend Announcement

The company 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple's dividend payout ratio (DPR) is currently 16.45%.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the transaction, the chief operating officer now owns 389,944 shares of the company's stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company's stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Apple 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.