Okabena Investment Services Inc. Has $5.30 Million Stake in Apple Inc. (NASDAQ:AAPL)

Okabena Investment Services Inc. lowered its holdings in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 23.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,725 shares of the iPhone maker's stock after selling 7,136 shares during the period. Apple comprises 1.5% of Okabena Investment Services Inc.'s portfolio, making the stock its 17th largest holding. Okabena Investment Services Inc.'s holdings in Apple were worth $5,295,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Truepoint Inc. raised its holdings in shares of Apple by 16.0% in the 3rd quarter. Truepoint Inc. now owns 17,853 shares of the iPhone maker's stock worth $4,160,000 after buying an additional 2,464 shares in the last quarter. Jim Saulnier & Associates LLC acquired a new position in Apple during the third quarter worth $400,000. Algert Global LLC lifted its holdings in shares of Apple by 4,035.9% during the third quarter. Algert Global LLC now owns 124,862 shares of the iPhone maker's stock valued at $29,093,000 after acquiring an additional 121,843 shares during the period. CMG Global Holdings LLC boosted its stake in shares of Apple by 2.9% in the 3rd quarter. CMG Global Holdings LLC now owns 32,811 shares of the iPhone maker's stock valued at $7,645,000 after purchasing an additional 926 shares in the last quarter. Finally, Canopy Partners LLC grew its holdings in shares of Apple by 2.1% in the 3rd quarter. Canopy Partners LLC now owns 48,659 shares of the iPhone maker's stock worth $11,338,000 after purchasing an additional 1,008 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AAPL shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $262.00 price objective on shares of Apple in a research note on Monday, January 27th. Raymond James increased their price target on Apple to $250.00 and gave the stock a "buy" rating in a research report on Monday, January 20th. UBS Group reiterated a "neutral" rating and issued a $236.00 price objective on shares of Apple in a research report on Monday, December 2nd. Monness Crespi & Hardt increased their target price on Apple to $245.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Bank of America lifted their price target on Apple from $253.00 to $265.00 and gave the company a "buy" rating in a report on Friday. Four analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $242.52.

Apple Trading Down 0.7 %

Apple stock opened at $236.00 on Friday. The stock has a 50-day simple moving average of $241.68 and a 200 day simple moving average of $230.87. The stock has a market capitalization of $3.55 trillion, a P/E ratio of 38.82, a PEG ratio of 2.39 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. 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 posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. Analysts expect that Apple Inc. will post 7.34 earnings per share for the current year.

Apple Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, February 10th. Apple's payout ratio is 16.45%.

Insider Activity at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company's stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction 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 sale, the chief operating officer now directly owns 389,944 shares of the company's stock, valued at $97,474,301.68. This represents 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.

Apple 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.

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