Apple Inc. (NASDAQ:AAPL) Shares Sold by City Holding Co.

City Holding Co. reduced its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,237 shares of the iPhone maker’s stock after selling 3,862 shares during the quarter. Apple accounts for 4.1% of City Holding Co.’s investment portfolio, making the stock its 2nd biggest holding. City Holding Co.’s holdings in Apple were worth $29,646,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AAPL. O Keefe Stevens Advisory Inc. increased its holdings in shares of Apple by 49.5% in the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 4,168 shares of the iPhone maker’s stock valued at $971,000 after purchasing an additional 1,380 shares during the period. Sugarloaf Wealth Management LLC boosted its holdings in shares of Apple by 0.5% during the third quarter. Sugarloaf Wealth Management LLC now owns 55,477 shares of the iPhone maker’s stock worth $12,926,000 after purchasing an additional 262 shares during the period. Park Place Capital Corp grew its position in Apple by 15.5% during the third quarter. Park Place Capital Corp now owns 28,476 shares of the iPhone maker’s stock valued at $6,635,000 after purchasing an additional 3,827 shares in the last quarter. Atomi Financial Group Inc. increased its stake in Apple by 5.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 266,264 shares of the iPhone maker’s stock valued at $62,039,000 after buying an additional 13,855 shares during the period. Finally, Traveka Wealth LLC lifted its position in Apple by 2.7% in the 3rd quarter. Traveka Wealth LLC now owns 24,830 shares of the iPhone maker’s stock worth $5,785,000 after buying an additional 657 shares in the last quarter. Hedge funds and other institutional investors own 60.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AAPL shares. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Loop Capital lowered their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Friday, November 1st. Melius Research reiterated a “buy” rating and set a $265.00 price target on shares of Apple in a report on Tuesday, August 27th. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a report on Monday. Two 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.25.

Apple Price Performance

Shares of AAPL stock opened at $232.87 on Tuesday. The company has a market capitalization of $3.52 trillion, a P/E ratio of 38.30, a P/E/G ratio of 2.25 and a beta of 1.24. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $237.49. The stock has a 50 day moving average of $228.06 and a two-hundred day moving average of $218.64.

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

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of the 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 completion of the sale, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. This trade represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. 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 over the last quarter. 0.06% of the stock is owned by company 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.