Apple Inc. (NASDAQ:AAPL) Shares Sold by Payden & Rygel

Payden & Rygel lowered its stake in Apple Inc. (NASDAQ:AAPL - Free Report) by 48.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,100 shares of the iPhone maker's stock after selling 47,800 shares during the quarter. Payden & Rygel's holdings in Apple were worth $11,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bull Oak Capital LLC boosted its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock worth $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc boosted its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock worth $69,000 after acquiring an additional 144 shares during the last quarter. ARK Investment Management LLC purchased a new position in Apple during the third quarter valued at $110,000. Finally, Cordant Inc. increased its holdings in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock valued at $158,000 after acquiring an additional 173 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Trading Down 0.7 %

Shares of NASDAQ AAPL traded down $1.74 during trading hours on Thursday, reaching $237.62. The stock had a trading volume of 32,786,231 shares, compared to its average volume of 56,478,961. The business's fifty day moving average price is $241.37 and its two-hundred day moving average price is $230.81. The firm has a market cap of $3.57 trillion, a price-to-earnings ratio of 39.08, a P/E/G ratio of 2.19 and a beta of 1.20. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL - Get Free Report) last issued its 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 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%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 EPS. Analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley reissued an "overweight" rating and set a $273.00 price objective on shares of Apple in a report on Friday, December 13th. Wedbush reissued an "outperform" rating and set a $325.00 price target on shares of Apple in a research note on Thursday, January 23rd. The Goldman Sachs Group reduced their price objective on Apple from $286.00 to $280.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. Needham & Company LLC reiterated a "buy" rating and set a $260.00 target price on shares of Apple in a research report on Tuesday, January 21st. Finally, UBS Group reissued a "neutral" rating and issued a $236.00 target price on shares of Apple in a report on Monday, December 2nd. 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $238.05.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction 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 trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the company's 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 owns 389,944 shares of the company's stock, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

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.