Apple Inc. (NASDAQ:AAPL) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,271 shares of the iPhone maker’s stock after selling 13,935 shares during the period. Apple makes up approximately 3.3% of Oakworth Capital Inc.’s investment portfolio, making the stock its 8th largest holding. Oakworth Capital Inc.’s holdings in Apple were worth $48,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hershey Financial Advisers LLC bought a new stake in Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its position in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after acquiring an additional 144 shares in the last quarter. Cordant Inc. increased its holdings in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after purchasing an additional 173 shares in the last quarter. Hoese & Co LLP raised its stake in shares of Apple by 6.7% in the 2nd quarter. Hoese & Co LLP now owns 912 shares of the iPhone maker’s stock valued at $175,000 after purchasing an additional 57 shares during the period. Finally, Sage Financial Group Inc. bought a new stake in shares of Apple in the second quarter valued at about $206,000. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Up 1.0 %

NASDAQ AAPL opened at $253.48 on Wednesday. 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 fifty-two week low of $164.07 and a fifty-two week high of $253.83. The stock has a market capitalization of $3.83 trillion, a PE ratio of 41.69, a PEG ratio of 2.41 and a beta of 1.23. The business has a fifty day moving average price of $233.64 and a two-hundred day moving average price of $224.73.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping 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 net margin of 23.97% and a return on equity of 152.94%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. Equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Activity

In other news, insider Chris Kondo sold 4,130 shares of the company’s 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 61,019 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value of $13,802,497.80. Following the completion of the transaction, the senior vice president now directly owns 187,043 shares in the company, valued at $42,309,126.60. This represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,170 shares of company stock worth $92,007,745. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAPL. Loop Capital dropped their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $245.00 target price on shares of Apple in a research report on Monday, September 9th. UBS Group reissued a “neutral” rating and set a $236.00 price target on shares of Apple in a research report on Monday, December 2nd. Melius Research restated a “buy” rating and issued a $265.00 price objective on shares of Apple in a report on Tuesday, August 27th. Finally, Wedbush reiterated an “outperform” rating and set a $300.00 target price on shares of Apple in a report on Friday, November 29th. Two investment 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.78.

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.