Apple Inc. (NASDAQ:AAPL) Shares Sold by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. cut its stake in Apple Inc. (NASDAQ:AAPL) by 2.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 197,421 shares of the iPhone maker’s stock after selling 4,456 shares during the quarter. Apple makes up 7.4% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 2nd biggest holding. Culbertson A N & Co. Inc.’s holdings in Apple were worth $45,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB bought a new stake in Apple in the first quarter worth $3,026,492,000. Strategic Financial Concepts LLC boosted its stake in shares of Apple by 14,145.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 7,612,261 shares of the iPhone maker’s stock worth $1,603,000 after acquiring an additional 7,558,826 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Apple by 158.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 11,532,438 shares of the iPhone maker’s stock valued at $1,977,582,000 after acquiring an additional 7,067,379 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Apple by 161.2% in the 1st quarter. Lazard Asset Management LLC now owns 8,759,445 shares of the iPhone maker’s stock valued at $1,502,068,000 after acquiring an additional 5,405,542 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Apple in the 2nd quarter worth approximately $834,368,000. 60.41% of the stock is currently owned by hedge funds and other institutional investors.

Apple Price Performance

Shares of Apple stock opened at $242.84 on Monday. The stock has a market capitalization of $3.67 trillion, a price-to-earnings ratio of 39.94, a P/E/G ratio of 2.38 and a beta of 1.23. The firm’s 50-day moving average price is $230.53 and its two-hundred day moving average price is $221.83. 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 Inc. has a 1-year low of $164.07 and a 1-year high of $244.63.

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

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’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 sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, 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 SEC, which is available at the SEC website. Also, CFO Luca Maestri sold 59,305 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $226.52, for a total value of $13,433,768.60. Following the completion of the transaction, 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 90 days, insiders sold 408,170 shares of company stock worth $92,007,745. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on AAPL shares. Rosenblatt Securities lifted their price target on shares of Apple from $261.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Piper Sandler reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Bank of America boosted their target price on shares of Apple to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $260.00 price target on shares of Apple in a research report on Friday, November 1st. Finally, Moffett Nathanson cut their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday, November 19th. 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 given a strong buy rating to the stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $235.68.

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.