Saturna Capital Corp lessened its stake in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 2.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,134,890 shares of the iPhone maker's stock after selling 44,903 shares during the quarter. Apple makes up 6.5% of Saturna Capital Corp's holdings, making the stock its 2nd biggest holding. Saturna Capital Corp's holdings in Apple were worth $497,429,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the stock. Lantz Financial LLC increased its stake in shares of Apple by 8.6% in the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker's stock valued at $6,266,000 after buying an additional 2,361 shares during the period. Fifth Third Bancorp boosted its position in Apple by 0.8% during the 2nd quarter. Fifth Third Bancorp now owns 6,202,902 shares of the iPhone maker's stock worth $1,306,455,000 after buying an additional 48,719 shares during the period. Oak Harvest Investment Services grew its holdings in Apple by 3.1% during the 2nd quarter. Oak Harvest Investment Services now owns 124,883 shares of the iPhone maker's stock worth $26,303,000 after acquiring an additional 3,727 shares during the last quarter. Centennial Wealth Advisory LLC increased its position in Apple by 5.6% in the 2nd quarter. Centennial Wealth Advisory LLC now owns 28,773 shares of the iPhone maker's stock valued at $6,060,000 after acquiring an additional 1,529 shares during the period. Finally, Geneva Partners LLC raised its stake in shares of Apple by 2,181.9% during the second quarter. Geneva Partners LLC now owns 63,826 shares of the iPhone maker's stock valued at $13,443,000 after acquiring an additional 61,029 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.
Apple Stock Down 3.2 %
Shares of NASDAQ:AAPL traded down $7.34 during mid-day trading on Tuesday, hitting $222.64. 97,741,716 shares of the company traded hands, compared to its average volume of 54,004,285. The stock has a market cap of $3.35 trillion, a P/E ratio of 36.62, a P/E/G ratio of 2.25 and a beta of 1.20. The stock has a 50-day moving average price of $241.12 and a two-hundred day moving average price of $230.85. Apple Inc. has a 12-month low of $164.07 and a 12-month 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 posted 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to analysts' expectations of $94.52 billion. During the same quarter last year, the firm earned $1.46 EPS. The company's quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.
Apple Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 0.45%. The ex-dividend date was Friday, November 8th. Apple's payout ratio is 16.45%.
Analyst Ratings Changes
Several brokerages recently weighed in on AAPL. StockNews.com cut shares of Apple from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Needham & Company LLC reiterated a "buy" rating and issued a $260.00 price target on shares of Apple in a research report on Tuesday. KeyCorp downgraded Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Moffett Nathanson reaffirmed a "sell" rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a research note on Tuesday, January 7th. Finally, Bank of America reissued a "buy" rating and set a $256.00 target price on shares of Apple in a research report on Friday, January 3rd. Four analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Apple currently has an average rating of "Moderate Buy" and a consensus price target of $238.02.
Get Our Latest Stock Analysis on AAPL
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 value of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the transaction, the chief operating officer now owns 389,944 shares of the company's stock, valued at approximately $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 owned by company insiders.
Apple Profile
(
Free Report)
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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