Apple Inc. (NASDAQ:AAPL) Shares Sold by Genesee Capital Advisors LLC

Genesee Capital Advisors LLC cut its position in Apple Inc. (NASDAQ:AAPL) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,154 shares of the iPhone maker’s stock after selling 1,323 shares during the quarter. Apple makes up 4.7% of Genesee Capital Advisors LLC’s investment portfolio, making the stock its 4th biggest holding. Genesee Capital Advisors LLC’s holdings in Apple were worth $9,822,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Swedbank AB acquired a new stake in Apple during the 1st quarter valued at $3,026,492,000. Strategic Financial Concepts LLC grew its holdings in 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 valued at $1,603,000 after buying an additional 7,558,826 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Apple during the second quarter worth $834,368,000. Ameriprise Financial Inc. boosted its holdings in shares of Apple by 6.7% during the second quarter. Ameriprise Financial Inc. now owns 51,765,589 shares of the iPhone maker’s stock worth $10,909,457,000 after purchasing an additional 3,245,281 shares during the last quarter. Finally, Tairen Capital Ltd acquired a new stake in shares of Apple during the second quarter worth $588,952,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on AAPL. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Apple in a research report on Friday, November 29th. Barclays dropped their target price on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Citigroup lifted their target price on Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two research 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 given a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.78.

Insider Buying and Selling

In related news, CFO Luca Maestri sold 59,305 shares of Apple stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $226.52, for a total value of $13,433,768.60. Following the sale, the chief financial officer now directly owns 107,788 shares in the company, valued at approximately $24,416,137.76. The trade was a 35.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 15,419 shares of the company’s stock, 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 sold 408,170 shares of company stock valued at $92,007,745 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Apple Price Performance

Apple stock opened at $251.04 on Tuesday. The firm has a 50-day moving average of $233.09 and a two-hundred day moving average of $224.30. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $251.38. The stock has a market cap of $3.79 trillion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The business had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the firm earned $1.46 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, research analysts forecast that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Apple’s dividend payout ratio is currently 16.45%.

Apple 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.