Pegasus Asset Management Inc. Has $20.15 Million Stock Holdings in Apple Inc. (NASDAQ:AAPL)

Pegasus Asset Management Inc. trimmed its stake in shares of Apple Inc. (NASDAQ:AAPL) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,480 shares of the iPhone maker’s stock after selling 2,777 shares during the quarter. Apple accounts for 7.7% of Pegasus Asset Management Inc.’s portfolio, making the stock its 2nd largest holding. Pegasus Asset Management Inc.’s holdings in Apple were worth $20,150,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. High Net Worth Advisory Group LLC increased its stake in shares of Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares in the last quarter. Granite Investment Partners LLC increased its position in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after acquiring an additional 7,606 shares in the last quarter. Truist Financial Corp raised its stake in shares of Apple by 1.8% in the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Apple by 5.2% during the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after purchasing an additional 95,235 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its holdings in shares of Apple by 15.2% in the third quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after purchasing an additional 19,670 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. This represents a 6.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 508,170 shares of company stock valued at $117,004,745 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Apple Stock Down 2.1 %

AAPL stock opened at $248.05 on Thursday. 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 business’s fifty day moving average price is $234.01 and its two-hundred day moving average price is $224.89. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $254.28. The stock has a market capitalization of $3.75 trillion, a price-to-earnings ratio of 40.80, a PEG 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 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 company had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same period last year, the firm earned $1.46 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current 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 paid a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.40%. Apple’s payout ratio is 16.45%.

Analyst Upgrades and Downgrades

AAPL has been the topic of several research reports. Barclays decreased their price objective on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research report on Friday, November 1st. StockNews.com lowered Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Bank of America upped their target price on shares of Apple to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Citigroup lifted their price target on shares of Apple to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, New Street Research reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.