Patriot Investment Management Group Inc. Sells 901 Shares of Apple Inc. (NASDAQ:AAPL)

Patriot Investment Management Group Inc. cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,957 shares of the iPhone maker’s stock after selling 901 shares during the period. Apple accounts for about 0.7% of Patriot Investment Management Group Inc.’s investment portfolio, making the stock its 25th biggest holding. Patriot Investment Management Group Inc.’s holdings in Apple were worth $9,077,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter worth $42,000. Christopher J. Hasenberg Inc increased its position in Apple by 88.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after purchasing an additional 144 shares in the last quarter. Hoese & Co LLP lifted its stake in shares of Apple by 6.7% in 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 during the second quarter valued at about $206,000. Finally, Benchmark Wealth Management LLC acquired a new stake in Apple during the 2nd quarter worth approximately $208,000. Institutional investors and hedge funds own 60.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AAPL. Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of Apple in a research note on Monday, November 25th. Maxim Group increased their price objective on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Tigress Financial boosted their price target on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Evercore ISI reissued a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.68.

Apple Price Performance

Apple stock opened at $242.65 on Wednesday. The firm has a market capitalization of $3.67 trillion, a PE ratio of 39.91, a P/E/G ratio of 2.35 and a beta of 1.23. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $242.76. The firm’s 50-day simple moving average is $229.59 and its 200 day simple moving average is $220.74. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last posted its quarterly earnings data 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. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.46 earnings per share. On average, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid 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 0.41%. Apple’s dividend payout ratio is presently 16.45%.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’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 sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 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 disclosure for this sale can be found here. Insiders sold a total of 408,170 shares of company stock worth $92,007,745 in the last ninety days. Insiders own 0.06% of the company’s stock.

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.