Boston Financial Mangement LLC Has $166.19 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Boston Financial Mangement LLC reduced its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 713,248 shares of the iPhone maker's stock after selling 31,724 shares during the period. Apple accounts for approximately 5.0% of Boston Financial Mangement LLC's holdings, making the stock its 2nd biggest position. Boston Financial Mangement LLC's holdings in Apple were worth $166,187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. High Net Worth Advisory Group LLC lifted 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 acquiring an additional 1,066 shares during the last quarter. Granite Investment Partners LLC raised its holdings in shares of Apple by 2.7% in the 2nd 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. Truist Financial Corp lifted 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 purchasing an additional 126,210 shares during the last quarter. Sterling Investment Counsel LLC boosted its holdings 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% in 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 during the last quarter. 67.73% of the stock is currently owned by institutional investors.

Apple Stock Performance

Shares of Apple stock traded down $3.39 on Monday, reaching $252.20. The stock had a trading volume of 35,435,137 shares, compared to its average volume of 57,203,777. 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 business's 50-day moving average price is $237.41 and its two-hundred day moving average price is $227.89. The stock has a market cap of $3.81 trillion, a P/E ratio of 41.48, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.40%. Apple's payout ratio is 16.45%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AAPL. Moffett Nathanson reduced their price objective on Apple from $211.00 to $202.00 and set a "neutral" rating for the company in a research note on Tuesday, November 19th. Monness Crespi & Hardt reiterated a "buy" rating and issued a $245.00 price target on shares of Apple in a research report on Monday, September 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $260.00 price objective on shares of Apple in a research note on Tuesday, December 10th. Oppenheimer reissued a "buy" rating and issued a $250.00 target price on shares of Apple in a research report on Tuesday, October 1st. Finally, Rosenblatt Securities upped their price target on shares of Apple from $261.00 to $262.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $237.47.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the completion of the sale, the chief operating officer now owns 489,944 shares of the company's stock, valued at approximately $111,148,695.84. The trade was a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 in the last 90 days. 0.06% of the stock is owned by company insiders.

About Apple

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.