Apple Inc. (NASDAQ:AAPL) is Dover Advisors LLC’s 2nd Largest Position

Dover Advisors LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,588 shares of the iPhone maker’s stock after selling 1,347 shares during the quarter. Apple comprises 7.5% of Dover Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. Dover Advisors LLC’s holdings in Apple were worth $13,185,000 at the end of the most recent reporting period.

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

Apple Stock Up 0.0 %

AAPL opened at $243.04 on Friday. The firm’s 50 day simple moving average is $230.23 and its two-hundred day simple moving average is $221.05. The company has a market capitalization of $3.67 trillion, a PE ratio of 39.97, a PEG ratio of 2.38 and a beta of 1.23. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $244.54. The company has a current ratio of 0.87, a quick ratio of 0.83 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 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during 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%. Apple’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS. As a group, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity at Apple

In other Apple news, 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 completion of the transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Luca Maestri sold 59,305 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total transaction of $13,433,768.60. Following the sale, the chief financial officer now owns 107,788 shares in the company, valued at $24,416,137.76. The trade was a 35.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Loop Capital lowered their price target 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. reiterated an “overweight” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, September 10th. UBS Group reissued a “neutral” rating and set a $236.00 target price on shares of Apple in a research note on Monday. Barclays dropped their target price on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. Finally, StockNews.com cut Apple from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Two investment 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $235.68.

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.