Apple Inc. (NASDAQ:AAPL) Shares Sold by Hoffman Alan N Investment Management

Hoffman Alan N Investment Management lowered its stake in Apple Inc. (NASDAQ:AAPL) by 0.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 421,061 shares of the iPhone maker’s stock after selling 1,718 shares during the period. Apple makes up approximately 47.2% of Hoffman Alan N Investment Management’s holdings, making the stock its biggest position. Hoffman Alan N Investment Management’s holdings in Apple were worth $98,107,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AAPL. China Universal Asset Management Co. Ltd. lifted its position in shares of Apple by 127.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Apple by 0.9% during the 1st quarter. Blue Trust Inc. now owns 128,418 shares of the iPhone maker’s stock worth $22,021,000 after purchasing an additional 1,106 shares during the last quarter. Peterson Wealth Services increased its stake in Apple by 1.8% during the first quarter. Peterson Wealth Services now owns 96,257 shares of the iPhone maker’s stock valued at $16,506,000 after acquiring an additional 1,688 shares during the period. Fairhaven Wealth Management LLC increased its stake in Apple by 17.9% during the first quarter. Fairhaven Wealth Management LLC now owns 79,503 shares of the iPhone maker’s stock valued at $13,633,000 after acquiring an additional 12,097 shares during the period. Finally, KFA Private Wealth Group LLC increased its stake in Apple by 6.0% during the first quarter. KFA Private Wealth Group LLC now owns 29,304 shares of the iPhone maker’s stock valued at $5,025,000 after acquiring an additional 1,648 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock.

Apple Stock Up 0.6 %

NASDAQ:AAPL opened at $229.87 on Friday. The stock’s fifty day moving average price is $227.73 and its two-hundred day moving average price is $217.81. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $237.49. 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 company has a market cap of $3.47 trillion, a price-to-earnings ratio of 37.81, a P/E/G ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $94.52 billion. During the same quarter in the prior year, the business earned $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity

In other news, 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 of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 408,170 shares of company stock valued at $92,007,745 in the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Tigress Financial boosted their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. TD Cowen boosted their price target on Apple from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Evercore ISI restated a “buy” rating and set a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.25.

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.