Apple Inc. (NASDAQ:AAPL) Shares Sold by Community Financial Services Group LLC

Community Financial Services Group LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,299 shares of the iPhone maker’s stock after selling 1,883 shares during the quarter. Apple comprises approximately 5.7% of Community Financial Services Group LLC’s portfolio, making the stock its 3rd biggest holding. Community Financial Services Group LLC’s holdings in Apple were worth $27,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the company. Hershey Financial Advisers LLC acquired a new position in shares of Apple in the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc increased its position in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. Cordant Inc. boosted its stake in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the last quarter. Hoese & Co LLP lifted its holdings in Apple by 6.7% during the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock worth $175,000 after buying an additional 57 shares during the last quarter. Finally, Sage Financial Group Inc. acquired a new position in Apple in the second quarter valued at approximately $206,000. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insiders Place Their Bets

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders sold 408,170 shares of company stock valued at $92,007,745. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America raised their target price on Apple to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Apple in a research note on Tuesday, December 10th. Rosenblatt Securities upped their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Apple in a research report on Friday, November 29th. Finally, KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Stock Performance

Apple stock opened at $251.04 on Tuesday. The firm has a market capitalization of $3.79 trillion, a P/E ratio of 41.29, a P/E/G ratio of 2.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a fifty day moving average price of $233.09 and a two-hundred day moving average price of $224.30. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $251.38.

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. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm posted $1.46 EPS. The business’s revenue was up 6.1% on a year-over-year basis. As a group, analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

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