Arcus Capital Partners LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 7.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,909 shares of the iPhone maker's stock after selling 1,123 shares during the quarter. Apple makes up about 1.3% of Arcus Capital Partners LLC's holdings, making the stock its 11th largest position. Arcus Capital Partners LLC's holdings in Apple were worth $3,474,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Platform Technology Partners boosted its stake in Apple by 1.3% in the third quarter. Platform Technology Partners now owns 133,028 shares of the iPhone maker's stock valued at $30,668,000 after acquiring an additional 1,671 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Apple by 1.9% in the 3rd quarter. Baillie Gifford & Co. now owns 745,705 shares of the iPhone maker's stock worth $173,749,000 after purchasing an additional 14,177 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Apple by 1.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 34,486,195 shares of the iPhone maker's stock valued at $8,035,283,000 after purchasing an additional 432,140 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Apple by 23.9% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 499,426 shares of the iPhone maker's stock valued at $116,265,000 after purchasing an additional 96,362 shares during the period. Finally, Apollon Financial LLC increased its position in Apple by 1.3% in the third quarter. Apollon Financial LLC now owns 62,500 shares of the iPhone maker's stock worth $14,563,000 after buying an additional 802 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company's stock.
Apple Trading Up 0.8 %
Shares of Apple stock traded up $1.72 during trading on Monday, reaching $229.98. The company's stock had a trading volume of 68,239,505 shares, compared to its average volume of 41,481,172. The company has a market cap of $3.48 trillion, a price-to-earnings ratio of 37.83, a PEG ratio of 2.32 and a beta of 1.20. The firm's 50-day moving average is $241.01 and its two-hundred day moving average is $230.79. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.
Apple (NASDAQ:AAPL - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analysts' expectations of $94.52 billion. During the same period last year, the firm earned $1.46 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple's payout ratio is 16.45%.
Wall Street Analyst Weigh In
AAPL has been the subject of several research reports. Bank of America reiterated a "buy" rating and set a $256.00 price target on shares of Apple in a research note on Friday, January 3rd. Sanford C. Bernstein increased their target price on shares of Apple from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Jefferies Financial Group downgraded shares of Apple from a "buy" rating to a "hold" rating and lifted their target price for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. UBS Group restated a "neutral" rating and set a $236.00 price target on shares of Apple in a research note on Monday, December 2nd. Finally, Morgan Stanley reissued an "overweight" rating and set a $273.00 target price on shares of Apple in a report on Friday, December 13th. Three 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 given a strong buy rating to the company. According to MarketBeat.com, Apple has an average rating of "Moderate Buy" and a consensus target price of $239.85.
View Our Latest Stock Report on AAPL
Insider Activity at Apple
In other news, 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 sale, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the firm's stock in a transaction dated 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 in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.
Apple Company 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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