Apple Inc. (NASDAQ:AAPL) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC decreased its holdings in Apple Inc. (NASDAQ:AAPL) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,640 shares of the iPhone maker’s stock after selling 8,487 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Apple were worth $42,555,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hershey Financial Advisers LLC purchased a new stake in Apple during the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc grew its holdings in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. Hoese & Co LLP increased its stake in shares of Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after acquiring an additional 57 shares during the last quarter. Sage Financial Group Inc. acquired a new stake in shares of Apple in the second quarter worth approximately $206,000. Finally, Benchmark Wealth Management LLC acquired a new position in shares of Apple in the 2nd quarter valued at about $208,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on AAPL. Bank of America reissued a “buy” rating and issued a $256.00 target price on shares of Apple in a research note on Thursday, October 3rd. Piper Sandler reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Barclays dropped their price target on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research note on Friday, November 1st. Finally, Melius Research reissued a “buy” rating and issued a $265.00 target price on shares of Apple in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.68.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of Apple stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,170 shares of company stock valued at $92,007,745. Corporate insiders own 0.06% of the company’s stock.

Apple Stock Up 1.0 %

AAPL opened at $239.59 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The business’s fifty day simple moving average is $229.02 and its 200 day simple moving average is $220.02. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $240.79. The stock has a market cap of $3.62 trillion, a PE ratio of 39.41, a P/E/G ratio of 2.33 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 for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the company posted $1.46 EPS. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 annualized dividend and a dividend yield of 0.42%. Apple’s dividend payout ratio is 16.45%.

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.