Ridgewood Investments LLC Sells 426 Shares of Apple Inc. (NASDAQ:AAPL)

Ridgewood Investments LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,925 shares of the iPhone maker’s stock after selling 426 shares during the period. Ridgewood Investments LLC’s holdings in Apple were worth $681,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AAPL. Hershey Financial Advisers LLC bought a new position in Apple in the 2nd quarter valued at about $42,000. Access Investment Management LLC bought a new position in shares of Apple during the first quarter worth approximately $140,000. Hoese & Co LLP increased its holdings in shares of Apple by 6.7% during the second quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after purchasing an additional 57 shares during the period. Sage Financial Group Inc. bought a new position in shares of Apple during the second quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC bought a new position in shares of Apple during the second quarter worth approximately $208,000. Institutional investors own 60.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on AAPL. The Goldman Sachs Group raised their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Maxim Group increased their price target on shares of Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Wedbush reiterated an “outperform” rating and set a $285.00 price target on shares of Apple in a research report on Monday, September 9th. Loop Capital reduced their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, KeyCorp lowered shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target on the stock. in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $235.25.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $228.44 on Friday. The firm has a 50 day moving average of $227.59 and a 200 day moving average of $217.47. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 37.57, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 earnings per share. On average, research analysts anticipate 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. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 59,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the transaction, the chief operating officer now owns 489,944 shares of the company’s stock, valued at approximately $111,148,695.84. The trade was a 10.87 % 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, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

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.