Apple Inc. (NASDAQ:AAPL) is Petredis Investment Advisors LLC’s 5th Largest Position

Petredis Investment Advisors LLC raised its position in Apple Inc. (NASDAQ:AAPL) by 0.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 211,287 shares of the iPhone maker’s stock after acquiring an additional 575 shares during the quarter. Apple makes up 5.2% of Petredis Investment Advisors LLC’s portfolio, making the stock its 5th biggest holding. Petredis Investment Advisors LLC’s holdings in Apple were worth $49,230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Verus Financial Partners Inc. raised its position in shares of Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after acquiring an additional 48 shares in the last quarter. Brown Financial Advisory lifted its position in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after buying an additional 50 shares during the last quarter. Core Wealth Management Inc. boosted its holdings in shares of Apple by 1.7% in the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares in the last quarter. Lowery Thomas LLC grew its position in shares of Apple by 0.7% in the 2nd quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock worth $1,602,000 after buying an additional 50 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. raised its stake in shares of Apple by 1.1% during the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 4,505 shares of the iPhone maker’s stock worth $949,000 after acquiring an additional 51 shares in the last quarter. 60.41% of the stock is owned by hedge funds and other institutional investors.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $243.04 on Friday. The company has a market capitalization of $3.67 trillion, a PE ratio of 39.97, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company’s fifty day moving average price is $230.23 and its 200 day moving average price is $221.05. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $244.54.

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

Apple Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. New Street Research reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Loop Capital reduced their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Melius Research reiterated a “buy” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, August 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Finally, Bank of America increased their price objective on shares of Apple to $256.00 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.68.

Insider Activity

In other news, CEO Timothy D. Cook sold 223,986 shares of Apple 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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 408,170 shares of company stock worth $92,007,745 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

About Apple

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.