Apple Inc. (NASDAQ:AAPL) Shares Sold by Abner Herrman & Brock LLC

Abner Herrman & Brock LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 0.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,074 shares of the iPhone maker’s stock after selling 307 shares during the quarter. Apple accounts for about 2.9% of Abner Herrman & Brock LLC’s holdings, making the stock its 9th biggest position. Abner Herrman & Brock LLC’s holdings in Apple were worth $24,016,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Hershey Financial Advisers LLC purchased a new stake in Apple in the 2nd quarter valued at approximately $42,000. Hoese & Co LLP raised its holdings in shares of Apple by 6.7% in 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 during the last quarter. Sage Financial Group Inc. purchased a new stake in shares of Apple in the second quarter valued at $206,000. Benchmark Wealth Management LLC acquired a new stake in shares of Apple during the second quarter valued at $208,000. Finally, SMH Capital Advisors Inc. purchased a new stake in Apple during the 2nd quarter worth about $209,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AAPL has been the topic of several analyst reports. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and raised their price objective for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Loop Capital decreased their price target on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Wedbush reaffirmed an “outperform” rating and set a $285.00 price objective on shares of Apple in a research note on Monday, September 9th. Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a research report on Thursday, October 3rd. Finally, New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, September 25th. Two equities research 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. Based on data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $235.25.

Insider Buying and Selling

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction 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. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on 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 represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock valued at $92,007,745 over the last ninety days. Insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of Apple stock opened at $235.06 on Wednesday. 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 firm has a market cap of $3.55 trillion, a P/E ratio of 38.66, a price-to-earnings-growth ratio of 2.25 and a beta of 1.24. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $237.49. The firm’s 50-day simple moving average is $228.43 and its 200-day simple moving average is $219.01.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. As a group, research analysts expect that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given 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.