SOL Capital Management CO cut its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,813 shares of the iPhone maker's stock after selling 8,283 shares during the quarter. Apple comprises approximately 2.4% of SOL Capital Management CO's portfolio, making the stock its 4th largest holding. SOL Capital Management CO's holdings in Apple were worth $21,858,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. High Net Worth Advisory Group LLC grew its position in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker's stock valued at $14,916,000 after buying an additional 1,066 shares during the last quarter. Granite Investment Partners LLC raised its position in Apple by 2.7% during the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker's stock worth $60,958,000 after buying an additional 7,606 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker's stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the period. EP Wealth Advisors LLC boosted its holdings in shares of Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker's stock valued at $406,099,000 after acquiring an additional 95,235 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its stake in shares of Apple by 15.2% during the third quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker's stock worth $34,768,000 after acquiring an additional 19,670 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Citigroup raised their price objective on shares of Apple to $185.00 and gave the company a "buy" rating in a research report 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. KeyCorp lowered Apple from a "sector weight" rating to an "underweight" rating and set a $200.00 price objective on the stock. in a report on Friday, October 25th. Rosenblatt Securities raised their target price on Apple from $261.00 to $262.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, New Street Research restated a "neutral" rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, September 25th. Two 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $236.78.
Check Out Our Latest Research Report on AAPL
Insider Activity at Apple
In other news, SVP Katherine L. Adams sold 61,019 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now owns 187,043 shares of the company's stock, valued at approximately $42,309,126.60. This trade represents a 24.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 508,170 shares of company stock valued at $117,004,745. Corporate insiders own 0.06% of the company's stock.
Apple Stock Up 1.9 %
Shares of NASDAQ:AAPL traded up $4.70 during midday trading on Friday, hitting $254.49. 145,580,875 shares of the company's stock traded hands, compared to its average volume of 57,671,145. The firm's fifty day moving average price is $234.97 and its two-hundred day moving average price is $225.70. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $255.00. The company has a market cap of $3.85 trillion, a PE ratio of 41.86, a P/E/G 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 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company's revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. On average, equities research analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.
Apple Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple's dividend payout ratio (DPR) is presently 16.45%.
About Apple
(
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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