Apple Inc. (NASDAQ:AAPL) Shares Sold by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL - Free Report) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,616 shares of the iPhone maker's stock after selling 1,432 shares during the quarter. Apple makes up about 3.0% of Schrum Private Wealth Management LLC's investment portfolio, making the stock its 3rd largest position. Schrum Private Wealth Management LLC's holdings in Apple were worth $5,736,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bull Oak Capital LLC raised its position in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker's stock valued at $36,000 after acquiring an additional 111 shares during the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc increased its holdings in Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker's stock valued at $69,000 after purchasing an additional 144 shares during the last quarter. ARK Investment Management LLC acquired a new position in Apple in the third quarter valued at about $110,000. Finally, Cordant Inc. grew its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker's stock worth $158,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 67.73% of the company's stock.

Insiders Place Their Bets

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business'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 completion of the sale, the chief operating officer now directly owns 389,944 shares in the company, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of the 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 transaction, the insider now owns 15,419 shares in the company, 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. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Apple to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Piper Sandler reissued a "neutral" rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Evercore ISI reaffirmed a "buy" rating and set a $250.00 price objective on shares of Apple in a research note on Thursday, September 26th. Maxim Group boosted their target price on Apple from $203.00 to $215.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Finally, Bank of America reaffirmed a "buy" rating and set a $256.00 price target on shares of Apple in a research report on Friday, January 3rd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Apple currently has a consensus rating of "Moderate Buy" and an average price target of $238.02.

Apple Stock Down 3.2 %

Shares of AAPL stock opened at $222.64 on Wednesday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The stock has a market cap of $3.35 trillion, a price-to-earnings ratio of 36.62, a PEG ratio of 2.25 and a beta of 1.20. The firm's 50-day moving average is $241.12 and its 200-day moving average is $230.85.

Apple (NASDAQ:AAPL - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the company earned $1.46 earnings per share. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple's dividend payout ratio is 16.45%.

Apple 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.