Apple Inc. (NASDAQ:AAPL) Stock Holdings Cut by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 2.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 152,108 shares of the iPhone maker's stock after selling 4,454 shares during the quarter. Apple makes up about 1.9% of Goelzer Investment Management Inc.'s investment portfolio, making the stock its 7th largest position. Goelzer Investment Management Inc.'s holdings in Apple were worth $35,441,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. Quantum Financial Advisors LLC raised its stake in Apple by 2.3% during the third quarter. Quantum Financial Advisors LLC now owns 62,909 shares of the iPhone maker's stock valued at $14,658,000 after purchasing an additional 1,434 shares in the last quarter. Triton Wealth Management PLLC raised its stake in Apple by 2.0% during the third quarter. Triton Wealth Management PLLC now owns 27,139 shares of the iPhone maker's stock valued at $6,134,000 after purchasing an additional 523 shares in the last quarter. Regency Capital Management Inc. DE raised its stake in Apple by 2.5% during the third quarter. Regency Capital Management Inc. DE now owns 28,216 shares of the iPhone maker's stock valued at $6,574,000 after purchasing an additional 682 shares in the last quarter. HBW Advisory Services LLC raised its stake in Apple by 5.8% during the third quarter. HBW Advisory Services LLC now owns 34,374 shares of the iPhone maker's stock valued at $8,009,000 after purchasing an additional 1,876 shares in the last quarter. Finally, Chemung Canal Trust Co. raised its stake in Apple by 40.4% during the third quarter. Chemung Canal Trust Co. now owns 58,152 shares of the iPhone maker's stock valued at $13,549,000 after purchasing an additional 16,746 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company's stock.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the firm's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total value 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. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the firm's stock in a transaction on 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 owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is owned by company insiders.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $229.00 on Thursday. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The company's 50 day moving average is $227.47 and its 200 day moving average is $217.40. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.46 trillion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 2.20 and a beta of 1.24.

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

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple's payout ratio is 16.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Moffett Nathanson decreased their price target on shares of Apple from $211.00 to $202.00 and set a "neutral" rating on the stock in a research note on Tuesday. Piper Sandler reiterated a "neutral" rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Robert W. Baird boosted their price objective on shares of Apple from $200.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Needham & Company LLC reiterated a "buy" rating and set a $260.00 price objective on shares of Apple in a research report on Friday, November 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of Apple from $265.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $235.25.

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.