Boston Mountain Money Management Inc. Sells 105 Shares of Apple Inc. (NASDAQ:AAPL)

Boston Mountain Money Management Inc. cut its holdings in Apple Inc. (NASDAQ:AAPL) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,349 shares of the iPhone maker’s stock after selling 105 shares during the period. Apple makes up approximately 1.0% of Boston Mountain Money Management Inc.’s portfolio, making the stock its 19th biggest position. Boston Mountain Money Management Inc.’s holdings in Apple were worth $1,712,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AAPL. Swedbank AB bought a new position in shares of Apple in the 1st quarter worth about $3,026,492,000. Strategic Financial Concepts LLC boosted its stake in Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock valued at $1,603,000 after purchasing an additional 7,558,826 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after purchasing an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Apple by 161.2% during the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after purchasing an additional 5,405,542 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in Apple during the 2nd quarter valued at about $834,368,000. 60.41% of the stock is owned by institutional investors.

Apple Stock Performance

NASDAQ:AAPL opened at $242.65 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $242.76. The business has a 50 day moving average of $229.59 and a 200 day moving average of $220.74. The company has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.91, a PEG ratio of 2.35 and a beta of 1.23.

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

Apple Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.41%. Apple’s payout ratio is currently 16.45%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AAPL. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. New Street Research restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of Apple in a research note on Friday, November 29th. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Monday, November 25th. Two equities 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 given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $235.68.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. This represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total value of $50,275,897.56. Following the transaction, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by 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.