Patron Partners LLC cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,930 shares of the iPhone maker's stock after selling 1,277 shares during the period. Apple accounts for 6.0% of Patron Partners LLC's portfolio, making the stock its 2nd largest holding. Patron Partners LLC's holdings in Apple were worth $10,935,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of AAPL. 1620 Investment Advisors Inc. lifted its stake in Apple by 0.5% in the third quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker's stock worth $2,249,000 after purchasing an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC lifted its stake in shares of Apple by 1.3% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker's stock worth $813,000 after acquiring an additional 46 shares during the last quarter. Verus Financial Partners Inc. lifted its stake in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker's stock worth $3,566,000 after acquiring an additional 48 shares during the last quarter. Brown Financial Advisory grew its position in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker's stock valued at $287,000 after acquiring an additional 50 shares during the last quarter. Finally, Core Wealth Management Inc. increased its stake in Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker's stock worth $625,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. New Street Research restated a "neutral" rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. UBS Group restated a "neutral" rating and issued a $236.00 target price on shares of Apple in a research note on Monday, December 2nd. Sanford C. Bernstein lifted their price target on shares of Apple from $240.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Loop Capital lowered their price target on Apple from $300.00 to $275.00 and set a "buy" rating for the company in a report on Monday, November 4th. Finally, Raymond James raised their price objective on Apple to $250.00 and gave the stock a "buy" rating in a report on Monday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and a consensus target price of $239.85.
Get Our Latest Research Report on AAPL
Insiders Place Their Bets
In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated 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 sale, the chief operating officer now directly owns 389,944 shares of the company's stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the business's stock in a transaction dated 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 approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Apple Stock Performance
Shares of NASDAQ AAPL traded up $1.72 during midday trading on Monday, reaching $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 P/E ratio of 37.83, a P/E/G ratio of 2.32 and a beta of 1.20. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The business's 50-day simple moving average is $241.01 and its 200 day simple moving average is $230.79.
Apple (NASDAQ:AAPL - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 152.94% and a net margin of 23.97%. The firm's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.
Apple Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.43%. Apple's dividend payout ratio (DPR) is presently 16.45%.
Apple 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.
See Also
Before you consider Apple, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.
While Apple currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
