PSI Advisors LLC Reduces Position in Apple Inc. (NASDAQ:AAPL)

PSI Advisors LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,933 shares of the iPhone maker's stock after selling 4,389 shares during the period. Apple accounts for about 2.1% of PSI Advisors LLC's investment portfolio, making the stock its 12th biggest holding. PSI Advisors LLC's holdings in Apple were worth $7,207,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Hershey Financial Advisers LLC bought a new stake in Apple in the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc lifted its stake in shares of Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock valued at $69,000 after acquiring an additional 144 shares during the last quarter. Cordant Inc. grew its holdings in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock worth $158,000 after purchasing an additional 173 shares during the last quarter. Hoese & Co LLP boosted its position in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker's stock worth $175,000 after buying an additional 57 shares during the period. Finally, Sage Financial Group Inc. bought a new stake in Apple during the 2nd quarter worth approximately $206,000. 67.73% of the stock is currently owned by institutional investors.

Insider Activity at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on 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 sale, the chief executive officer now owns 3,280,180 shares of the company's stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple 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 completion of the sale, the insider now directly owns 15,419 shares of the company's stock, 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 ninety days, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AAPL. Morgan Stanley reaffirmed an "overweight" rating and set a $273.00 target price on shares of Apple in a research report on Friday, December 13th. StockNews.com downgraded shares of Apple from a "buy" rating to a "hold" rating in a research report on Friday, November 1st. Needham & Company LLC reissued a "buy" rating and set a $260.00 target price on shares of Apple in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their price target on shares of Apple to $275.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Finally, Evercore ISI restated a "buy" rating and issued a $250.00 target price on shares of Apple in a research note on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $236.78.

Apple Stock Up 1.9 %

AAPL stock traded up $4.70 during midday trading on Friday, hitting $254.49. The stock had a trading volume of 145,580,875 shares, compared to its average volume of 57,671,145. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.85 trillion, a price-to-earnings ratio of 41.86, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. The business has a 50-day moving average of $234.97 and a two-hundred day moving average of $225.70. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $255.00.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analysts' expectations of $94.52 billion. During the same period last year, the company posted $1.46 EPS. Apple's revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, November 8th. Apple's payout ratio is 16.45%.

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.