Apple Inc. (NASDAQ:AAPL) Shares Sold by Corundum Group Inc.

Corundum Group Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 13.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,593 shares of the iPhone maker’s stock after selling 3,768 shares during the period. Apple accounts for about 2.6% of Corundum Group Inc.’s holdings, making the stock its 12th biggest position. Corundum Group Inc.’s holdings in Apple were worth $5,730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Apple by 5.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 52,981,808 shares of the iPhone maker’s stock valued at $11,160,183,000 after purchasing an additional 2,785,807 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Apple by 6.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after acquiring an additional 3,245,281 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Apple by 3.2% during the 2nd quarter. American Century Companies Inc. now owns 34,619,614 shares of the iPhone maker’s stock worth $7,291,583,000 after acquiring an additional 1,065,759 shares in the last quarter. Swedbank AB boosted its stake in shares of Apple by 13.4% during the 2nd quarter. Swedbank AB now owns 20,008,650 shares of the iPhone maker’s stock worth $4,214,222,000 after acquiring an additional 2,359,409 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Apple by 10.3% during the 2nd quarter. TD Asset Management Inc now owns 16,745,201 shares of the iPhone maker’s stock worth $3,526,874,000 after acquiring an additional 1,557,848 shares in the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 0.1 %

Apple stock opened at $248.13 on Monday. 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 firm has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.81, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $250.80. The firm’s 50 day moving average price is $232.50 and its two-hundred day moving average price is $223.88.

Apple (NASDAQ:AAPL) last posted its quarterly 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 firm had revenue of $94.93 billion for the quarter, compared to analyst estimates of $94.52 billion. During the same quarter in the previous year, the business posted $1.46 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Timothy D. Cook sold 223,986 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the completion of the sale, the senior vice president now directly owns 187,043 shares of the company’s stock, valued at approximately $42,309,126.60. The trade was a 24.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 408,170 shares of company stock worth $92,007,745. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AAPL. Rosenblatt Securities boosted their price target on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a report on Tuesday, December 10th. New Street Research restated a “neutral” rating and set a $225.00 price objective on shares of Apple in a report on Wednesday, September 25th. Finally, Morgan Stanley restated an “overweight” rating and set a $273.00 price objective on shares of Apple in a report on Friday. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $236.78.

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.