Heritage Family Offices LLP Has $3.52 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Heritage Family Offices LLP trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,084 shares of the iPhone maker’s stock after selling 730 shares during the period. Apple accounts for about 1.8% of Heritage Family Offices LLP’s investment portfolio, making the stock its 10th biggest holding. Heritage Family Offices LLP’s holdings in Apple were worth $3,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Verus Financial Partners Inc. lifted its stake in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory lifted its stake in shares of Apple by 3.8% during the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after buying an additional 50 shares during the last quarter. Core Wealth Management Inc. lifted its stake in shares of Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after buying an additional 50 shares during the last quarter. Lowery Thomas LLC lifted its stake in shares of Apple by 0.7% during 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. lifted 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 buying an additional 51 shares during the last quarter. 60.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AAPL. Piper Sandler restated a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Evercore ISI reaffirmed a “buy” rating and set a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price target on shares of Apple in a research report on Monday, September 9th. StockNews.com lowered shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Citigroup raised their price target on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $235.68.

Insider Buying and Selling

In related news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were 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 $736,269,202.80. This trade represents a 6.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at approximately $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 have sold a total of 408,170 shares of company stock worth $92,007,745 in the last ninety days. Company insiders own 0.06% of the company’s stock.

Apple Trading Down 0.1 %

AAPL opened at $242.84 on Friday. The company’s 50 day moving average is $230.53 and its 200-day moving average is $221.62. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $244.63. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51. The company has a market cap of $3.67 trillion, a P/E ratio of 39.94, a PEG ratio of 2.38 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the company posted $1.46 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts predict that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a dividend of $0.25 per share. 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 dividend payout ratio is presently 16.45%.

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.