Mogy Joel R Investment Counsel Inc. Trims Position in Apple Inc. (NASDAQ:AAPL)

Mogy Joel R Investment Counsel Inc. decreased its position in Apple Inc. (NASDAQ:AAPL) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 637,689 shares of the iPhone maker’s stock after selling 4,567 shares during the quarter. Apple accounts for 9.1% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 2nd biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Apple were worth $148,581,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AAPL. IFG Advisors LLC increased its stake in Apple by 1.0% during the third quarter. IFG Advisors LLC now owns 61,051 shares of the iPhone maker’s stock worth $14,225,000 after acquiring an additional 590 shares during the last quarter. West Oak Capital LLC boosted its holdings in shares of Apple by 7.1% in the 3rd quarter. West Oak Capital LLC now owns 28,558 shares of the iPhone maker’s stock worth $6,654,000 after purchasing an additional 1,888 shares during the period. Moss Adams Wealth Advisors LLC increased its position in shares of Apple by 7.3% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 72,384 shares of the iPhone maker’s stock valued at $16,866,000 after purchasing an additional 4,908 shares during the last quarter. Generate Investment Management Ltd raised its holdings in Apple by 3.6% during the 3rd quarter. Generate Investment Management Ltd now owns 264,594 shares of the iPhone maker’s stock valued at $61,624,000 after buying an additional 9,259 shares during the period. Finally, Accurate Wealth Management LLC lifted its position in Apple by 8.8% in the third quarter. Accurate Wealth Management LLC now owns 103,801 shares of the iPhone maker’s stock worth $24,268,000 after buying an additional 8,354 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AAPL has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Apple in a research note on Friday, November 29th. Morgan Stanley reissued an “overweight” rating and set a $273.00 price target on shares of Apple in a research note on Monday, November 25th. Wells Fargo & Company upped their price objective on Apple to $275.00 and gave the company a “buy” rating in a research report on Monday. New Street Research reiterated a “neutral” rating and issued a $225.00 target price on shares of Apple in a research note on Wednesday, September 25th. Finally, Tigress Financial boosted their target price on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a research note on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Apple Stock Up 0.6 %

Shares of AAPL stock opened at $247.96 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $250.80. The firm has a market capitalization of $3.75 trillion, a PE ratio of 40.80, a P/E/G ratio of 2.42 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 stock’s 50-day simple moving average is $231.63 and its 200-day simple moving average is $222.83.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping 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 firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Activity at Apple

In other Apple news, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total transaction of $13,550,347.80. Following the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This trade represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 a total of 408,170 shares of company stock worth $92,007,745 in the last three months. Company insiders own 0.06% of the company’s stock.

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.