First Horizon Advisors Inc. Sells 5,992 Shares of Apple Inc. (NASDAQ:AAPL)

First Horizon Advisors Inc. lessened its position in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 338,200 shares of the iPhone maker's stock after selling 5,992 shares during the quarter. Apple makes up 2.2% of First Horizon Advisors Inc.'s investment portfolio, making the stock its 3rd largest holding. First Horizon Advisors Inc.'s holdings in Apple were worth $78,801,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AAPL. International Assets Investment Management LLC raised its holdings in Apple by 20,372.7% in the third quarter. International Assets Investment Management LLC now owns 94,347,510 shares of the iPhone maker's stock valued at $219,829,700,000 after acquiring an additional 93,886,664 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Apple by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker's stock valued at $11,160,183,000 after buying an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker's stock worth $10,909,457,000 after buying an additional 3,245,281 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker's stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Apple by 1.3% in the 3rd 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 acquiring an additional 432,140 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Apple Price Performance

AAPL traded down $1.74 on Thursday, hitting $237.62. 32,786,231 shares of the company were exchanged, compared to its average volume of 56,478,961. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week 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. The firm has a market capitalization of $3.57 trillion, a P/E ratio of 39.08, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The business's fifty day moving average is $241.37 and its 200 day moving average is $230.81.

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 for the quarter, topping 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 business had revenue of $94.93 billion for the quarter, compared to analysts' expectations of $94.52 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The company's revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were 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 directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AAPL. JPMorgan Chase & Co. decreased their target price on Apple from $265.00 to $260.00 in a research note on Thursday. Rosenblatt Securities restated a "buy" rating and set a $262.00 price objective on shares of Apple in a research report on Monday. The Goldman Sachs Group dropped their target price on shares of Apple from $286.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Piper Sandler reissued a "neutral" rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Finally, Bank of America restated a "buy" rating and issued a $253.00 price objective (down previously from $256.00) on shares of Apple in a research note on Friday, January 24th. Four equities 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $238.05.

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.