Apple Inc. (NASDAQ:AAPL) Shares Sold by Novare Capital Management LLC

Novare Capital Management LLC lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 174,909 shares of the iPhone maker’s stock after selling 2,920 shares during the quarter. Apple comprises about 3.5% of Novare Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Novare Capital Management LLC’s holdings in Apple were worth $40,754,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Granite Investment Partners LLC boosted its holdings in Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Truist Financial Corp grew its position in shares of Apple by 1.8% during the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the period. High Net Worth Advisory Group LLC raised its stake in shares of Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after acquiring an additional 95,235 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its holdings in Apple by 15.2% during the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock worth $34,768,000 after acquiring an additional 19,670 shares during the period. Institutional investors own 60.41% of the company’s stock.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of analyst reports. Moffett Nathanson decreased their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research note on Tuesday, November 19th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Loop Capital lowered their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $265.00 price target on shares of Apple in a report on Tuesday, September 10th. Finally, Melius Research reaffirmed a “buy” rating and set a $265.00 price objective on shares of Apple in a research note on Tuesday, August 27th. Two investment 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and a consensus price target of $235.68.

Apple Price Performance

NASDAQ:AAPL opened at $243.01 on Thursday. The firm’s fifty day moving average price is $229.92 and its two-hundred day moving average price is $220.90. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The company has a market cap of $3.67 trillion, a P/E ratio of 39.97, a P/E/G ratio of 2.35 and a beta of 1.23. Apple Inc. has a one year low of $164.07 and a one year high of $244.11.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $94.93 billion for 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%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 EPS. Equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The company also recently announced 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 of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.41%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the transaction, the senior vice president now directly 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. Over the last quarter, insiders have sold 408,170 shares of company stock worth $92,007,745. Company 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.