IAM Advisory LLC Sells 383 Shares of Apple Inc. (NASDAQ:AAPL)

IAM Advisory LLC decreased its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,440 shares of the iPhone maker’s stock after selling 383 shares during the quarter. Apple makes up 1.4% of IAM Advisory LLC’s investment portfolio, making the stock its 12th largest position. IAM Advisory LLC’s holdings in Apple were worth $5,461,000 at the end of the most recent quarter.

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

Apple Trading Up 0.6 %

Shares of NASDAQ AAPL opened at $229.87 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a 50-day moving average of $227.73 and a 200 day moving average of $217.81. The stock has a market cap of $3.47 trillion, a P/E ratio of 37.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.24.

Apple (NASDAQ:AAPL) last released its earnings results 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. The firm 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 business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $1.46 earnings per share. As a group, sell-side analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business 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 of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s dividend payout ratio is currently 16.45%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Tigress Financial increased their price objective on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. New Street Research reiterated a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Citigroup boosted their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $285.00 target price on shares of Apple in a report on Monday, September 9th. Finally, Bank of America restated a “buy” rating and set a $256.00 price target on shares of Apple in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $235.25.

Insider Activity

In related news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of Apple 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 completion of the sale, the insider now directly owns 15,419 shares of the company’s stock, 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. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

About Apple

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.