Dock Street Asset Management Inc. Sells 19,239 Shares of Apple Inc. (NASDAQ:AAPL)

Dock Street Asset Management Inc. reduced its stake in Apple Inc. (NASDAQ:AAPL) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,903 shares of the iPhone maker’s stock after selling 19,239 shares during the period. Apple accounts for approximately 8.0% of Dock Street Asset Management Inc.’s holdings, making the stock its 3rd biggest position. Dock Street Asset Management Inc.’s holdings in Apple were worth $59,392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Apple by 127.4% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 75,479 shares of the iPhone maker’s stock worth $12,943,000 after purchasing an additional 42,282 shares during the last quarter. Westwood Holdings Group Inc. grew its position in Apple by 2.4% in the first quarter. Westwood Holdings Group Inc. now owns 761,774 shares of the iPhone maker’s stock worth $130,629,000 after buying an additional 17,519 shares during the last quarter. Vawter Financial Ltd. increased its holdings in shares of Apple by 4.3% in the first quarter. Vawter Financial Ltd. now owns 9,999 shares of the iPhone maker’s stock valued at $1,715,000 after buying an additional 416 shares in the last quarter. Virtus Investment Advisers Inc. increased its holdings in shares of Apple by 25.6% in the first quarter. Virtus Investment Advisers Inc. now owns 13,392 shares of the iPhone maker’s stock valued at $2,296,000 after buying an additional 2,733 shares in the last quarter. Finally, Dynasty Wealth Management LLC acquired a new stake in shares of Apple during the 1st quarter valued at $6,118,000. 67.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated 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 sale, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 508,170 shares of company stock valued at $117,004,745. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AAPL shares. UBS Group reaffirmed a “neutral” rating and set a $236.00 target price on shares of Apple in a research report on Monday, December 2nd. Moffett Nathanson cut their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Wells Fargo & Company raised their target price on shares of Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler restated a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Finally, Rosenblatt Securities raised their price objective 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. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Apple Trading Down 2.1 %

NASDAQ:AAPL opened at $248.05 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company’s 50 day moving average is $234.01 and its 200-day moving average is $224.89. The firm has a market cap of $3.75 trillion, a price-to-earnings ratio of 40.80, a P/E/G ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $254.28.

Apple (NASDAQ:AAPL) last issued its quarterly 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 company had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business posted $1.46 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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