Patriot Financial Group Insurance Agency LLC Has $17.17 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Patriot Financial Group Insurance Agency LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,673 shares of the iPhone maker's stock after selling 2,680 shares during the quarter. Apple comprises 2.3% of Patriot Financial Group Insurance Agency LLC's portfolio, making the stock its 4th largest position. Patriot Financial Group Insurance Agency LLC's holdings in Apple were worth $17,166,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AAPL. Lantz Financial LLC grew its holdings in shares of Apple by 8.6% during the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker's stock valued at $6,266,000 after purchasing an additional 2,361 shares during the last quarter. Trinity Financial Advisors LLC boosted its position in Apple by 2.3% during the 2nd quarter. Trinity Financial Advisors LLC now owns 29,427 shares of the iPhone maker's stock valued at $6,198,000 after purchasing an additional 653 shares during the period. Foresight Capital Management Advisors Inc. grew its stake in Apple by 0.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker's stock worth $4,003,000 after buying an additional 55 shares during the last quarter. MADDEN SECURITIES Corp increased its position in Apple by 0.3% in the second quarter. MADDEN SECURITIES Corp now owns 31,487 shares of the iPhone maker's stock worth $6,632,000 after buying an additional 90 shares during the period. Finally, Guinness Asset Management LTD lifted its stake in Apple by 3.8% in the second quarter. Guinness Asset Management LTD now owns 156,985 shares of the iPhone maker's stock valued at $33,074,000 after buying an additional 5,759 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AAPL shares. Evercore ISI reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Apple in a report on Thursday, September 26th. 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 report on Tuesday, November 19th. Loop Capital lowered their target price on Apple from $300.00 to $275.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. UBS Group reiterated a "neutral" rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Finally, Oppenheimer reissued a "buy" rating and issued a $250.00 price target on shares of Apple in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $237.47.

Apple Trading Down 1.3 %

Shares of AAPL stock traded down $3.43 during trading hours on Friday, reaching $255.59. 42,297,621 shares of the stock traded hands, compared to its average volume of 57,290,680. The business has a fifty day moving average price of $237.41 and a 200 day moving average price of $227.89. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $3.86 trillion, a PE ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS 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 analysts' expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple's revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 earnings per share. On average, equities research 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. Shareholders 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 annualized dividend and a yield of 0.39%. Apple's dividend payout ratio (DPR) is presently 16.45%.

Insider Activity

In related news, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $249.97, for a total transaction 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. This trade represents a 20.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $50,275,897.56. Following the completion of the transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock worth $117,004,745 in the last 90 days. Company 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.