Bellwether Advisors LLC Sells 15,939 Shares of Apple Inc. (NASDAQ:AAPL)

Bellwether Advisors LLC lowered its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 65.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,410 shares of the iPhone maker's stock after selling 15,939 shares during the period. Bellwether Advisors LLC's holdings in Apple were worth $1,960,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. High Net Worth Advisory Group LLC increased its holdings in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock worth $14,916,000 after purchasing an additional 1,066 shares in the last quarter. Granite Investment Partners LLC lifted 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 purchasing an additional 7,606 shares in the last quarter. Amara Financial LLC. acquired a new position in Apple during the third quarter worth $288,000. Truist Financial Corp lifted its position in Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock worth $1,473,224,000 after buying an additional 126,210 shares in the last quarter. Finally, Sterling Investment Counsel LLC boosted its stake in shares of Apple by 3.8% during the 3rd 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 during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Trading Down 0.7 %

Shares of AAPL traded down $1.74 during mid-day trading on Thursday, reaching $237.62. 32,786,231 shares of the company were exchanged, compared to its average volume of 56,478,961. The business has a 50 day simple moving average of $241.37 and a two-hundred day simple moving average of $230.81. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market capitalization of $3.57 trillion, a PE ratio of 39.08, a PEG ratio of 2.19 and a beta of 1.20. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm 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 was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 EPS. On average, analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AAPL. Wells Fargo & Company raised their price target on Apple to $275.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Oppenheimer lowered shares of Apple from an "outperform" rating to a "market perform" rating in a research note on Wednesday. StockNews.com lowered Apple from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Citigroup lifted their price objective on shares of Apple to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Wedbush reissued an "outperform" rating and issued a $325.00 price objective on shares of Apple in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $238.05.

Insider Transactions at Apple

In related news, insider Chris Kondo sold 4,130 shares of the company's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now 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 ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Apple Company 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.