Worth Financial Advisory Group LLC lifted its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 50.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,214 shares of the iPhone maker's stock after acquiring an additional 13,085 shares during the period. Apple makes up about 5.4% of Worth Financial Advisory Group LLC's holdings, making the stock its 2nd largest holding. Worth Financial Advisory Group LLC's holdings in Apple were worth $9,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. High Net Worth Advisory Group LLC boosted its holdings in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock valued at $14,916,000 after purchasing an additional 1,066 shares during the period. Granite Investment Partners LLC raised its position in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker's stock worth $60,958,000 after buying an additional 7,606 shares in the last quarter. Truist Financial Corp boosted its stake in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock valued at $1,473,224,000 after buying an additional 126,210 shares during the period. Sterling Investment Counsel LLC grew its position in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker's stock worth $16,269,000 after buying an additional 2,565 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its position in Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker's stock worth $406,099,000 after buying an additional 95,235 shares in the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.
Apple Trading Down 1.3 %
AAPL stock traded down $3.43 on Friday, reaching $255.59. The company's stock had a trading volume of 42,297,621 shares, compared to its average volume of 57,290,680. The firm has a market cap of $3.86 trillion, a PE ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. The business has a fifty day simple moving average of $237.41 and a two-hundred day simple moving average of $227.89. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. 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 (NASDAQ:AAPL - Get Free Report) last issued 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. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates 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 prior year, the business earned $1.46 EPS. As a group, research 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. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. Apple's dividend payout ratio (DPR) is 16.45%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Moffett Nathanson dropped their price target on Apple from $211.00 to $202.00 and set a "neutral" rating for the company in a research report on Tuesday, November 19th. Barclays dropped their target price on shares of Apple from $186.00 to $184.00 and set an "underweight" rating for the company in a research report on Friday, November 1st. Monness Crespi & Hardt reissued a "buy" rating and issued a $245.00 price target on shares of Apple in a report on Monday, September 9th. Evercore ISI reaffirmed a "buy" rating and set a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. Finally, Wells Fargo & Company increased their target price on Apple to $275.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Apple has a consensus rating of "Moderate Buy" and a consensus price target of $237.47.
Check Out Our Latest Research Report on AAPL
Insider Transactions at Apple
In other news, CEO Timothy D. Cook sold 223,986 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the sale, the chief executive officer now directly owns 3,280,180 shares of the company's stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company's stock, 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. In the last quarter, insiders sold 508,170 shares of company stock valued at $117,004,745. Corporate insiders own 0.06% of the company's stock.
Apple Company Profile
(
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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