Omega Financial Group LLC Has $1.53 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Omega Financial Group LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 33.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,567 shares of the iPhone maker's stock after selling 3,261 shares during the quarter. Omega Financial Group LLC's holdings in Apple were worth $1,530,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in Apple by 127.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker's stock valued at $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Schulhoff & Co. Inc. grew its holdings in shares of Apple by 0.4% during the first quarter. Schulhoff & Co. Inc. now owns 18,925 shares of the iPhone maker's stock worth $3,245,000 after buying an additional 78 shares in the last quarter. Palisade Asset Management LLC raised its position in shares of Apple by 6.4% in the first quarter. Palisade Asset Management LLC now owns 242,164 shares of the iPhone maker's stock valued at $41,526,000 after buying an additional 14,585 shares during the last quarter. Hollencrest Capital Management raised its holdings in Apple by 567.9% in the 1st quarter. Hollencrest Capital Management now owns 1,069,412 shares of the iPhone maker's stock valued at $183,383,000 after acquiring an additional 909,303 shares during the last quarter. Finally, Main Street Research LLC grew its position in shares of Apple by 3.0% in the first quarter. Main Street Research LLC now owns 346,552 shares of the iPhone maker's stock valued at $59,427,000 after purchasing an additional 10,204 shares during the period. Institutional investors and hedge funds own 60.41% of the company's stock.

Apple Stock Performance

Apple stock traded up $1.35 during midday trading on Friday, reaching $229.87. 38,168,252 shares of the stock traded hands, compared to its average volume of 43,855,068. 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 firm has a fifty day moving average price of $227.73 and a two-hundred day moving average price of $218.06. The firm has a market cap of $3.47 trillion, a price-to-earnings ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $237.49.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $94.93 billion during 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%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. On average, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple's dividend payout ratio (DPR) is presently 16.45%.

Analyst Ratings Changes

Several research firms recently issued reports on AAPL. Barclays decreased their target price on shares of Apple from $186.00 to $184.00 and set an "underweight" rating on the stock in a research report on Friday, November 1st. Piper Sandler reiterated a "neutral" rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. The Goldman Sachs Group increased their target price on shares of Apple from $265.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Bank of America reiterated a "buy" rating and issued a $256.00 price target on shares of Apple in a report on Thursday, October 3rd. Finally, UBS Group increased their target price on Apple to $236.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus target price of $235.25.

Insider Activity at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the 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 completion of the sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now directly owns 15,419 shares of the company's stock, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 over the last ninety days. Insiders own 0.06% of the company's stock.

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.