C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Sells 2,080 Shares of Apple Inc. (NASDAQ:AAPL)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lowered its position in Apple Inc. (NASDAQ:AAPL) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,584 shares of the iPhone maker’s stock after selling 2,080 shares during the period. Apple comprises 1.8% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings, making the stock its 12th largest position. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Apple were worth $21,339,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Verus Financial Partners Inc. lifted its position in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory raised its stake in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares during the period. Core Wealth Management Inc. lifted its holdings in Apple by 1.7% during the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after purchasing an additional 50 shares during the last quarter. Lowery Thomas LLC boosted its position in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after purchasing an additional 50 shares during the period. Finally, Klein Pavlis & Peasley Financial Inc. increased its stake in shares of Apple by 1.1% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

Insider Transactions at Apple

In other news, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred 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 sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey E. Williams sold 59,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the sale, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. The trade was a 10.87 % 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 ninety days. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AAPL. Piper Sandler reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price objective on shares of Apple in a research note on Monday. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and raised their target price for the stock from $205.00 to $212.92 in a research note on Monday, October 7th. Tigress Financial upped their price target on Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group increased their price target on shares of Apple from $265.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $235.25.

Apple Trading Up 1.3 %

Shares of NASDAQ:AAPL opened at $232.87 on Tuesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The business’s fifty day simple moving average is $228.06 and its 200-day simple moving average is $218.64. The company has a market capitalization of $3.52 trillion, a PE 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 (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 for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. As a group, equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.43%. Apple’s payout ratio is 16.45%.

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.