Myecfo LLC Has $3.50 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Myecfo LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,007 shares of the iPhone maker’s stock after selling 349 shares during the period. Apple makes up 1.9% of Myecfo LLC’s investment portfolio, making the stock its 11th biggest holding. Myecfo LLC’s holdings in Apple were worth $3,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AAPL. Fidelis Capital Partners LLC raised its holdings in shares of Apple by 17.9% during the first quarter. Fidelis Capital Partners LLC now owns 206,455 shares of the iPhone maker’s stock valued at $35,000 after purchasing an additional 31,278 shares during the period. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the second quarter worth about $42,000. Access Investment Management LLC bought a new stake in shares of Apple during the first quarter worth about $140,000. Hoese & Co LLP increased its position 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 acquiring an additional 57 shares in the last quarter. Finally, Sage Financial Group Inc. bought a new stake in shares of Apple during the second quarter worth about $206,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

AAPL has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Citigroup upped their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. TD Cowen upped their price objective on shares of Apple from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Tigress Financial upped their price objective on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, August 28th. Two research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $235.25.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $229.87 on Friday. The stock has a market cap of $3.47 trillion, a PE ratio of 37.81, a PEG ratio of 2.24 and a beta of 1.24. The company’s fifty day moving average is $227.73 and its 200 day moving average 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 quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the company earned $1.46 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given 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 payout ratio is 16.45%.

Insider Buying and Selling at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated 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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction dated 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 sale, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 24.60 % 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 worth $92,007,745. 0.06% of the stock is currently owned by company insiders.

Apple Company 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.