GAM Holding AG Sells 2,264 Shares of Apple Inc. (NASDAQ:AAPL)

GAM Holding AG trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 159,970 shares of the iPhone maker’s stock after selling 2,264 shares during the quarter. Apple makes up approximately 3.0% of GAM Holding AG’s investment portfolio, making the stock its 6th largest position. GAM Holding AG’s holdings in Apple were worth $37,273,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. High Net Worth Advisory Group LLC boosted its stake in Apple by 1.7% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after purchasing an additional 1,066 shares during the last quarter. Granite Investment Partners LLC lifted its stake in shares of Apple by 2.7% in the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares in the last quarter. Truist Financial Corp boosted its position in Apple by 1.8% during 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 Apple by 5.2% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock valued at $406,099,000 after acquiring an additional 95,235 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its holdings in Apple by 15.2% in the 3rd quarter. CHICAGO TRUST Co NA now owns 149,219 shares of the iPhone maker’s stock valued at $34,768,000 after acquiring an additional 19,670 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Stock Up 0.7 %

Shares of NASDAQ AAPL opened at $249.79 on Friday. The stock has a market cap of $3.78 trillion, a P/E ratio of 41.08, a PEG ratio of 2.41 and a beta of 1.23. The business’s fifty day simple moving average is $234.43 and its 200-day simple moving average is $225.06. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $254.28. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the business posted $1.46 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.40%. Apple’s payout ratio is 16.45%.

Analyst Upgrades and Downgrades

AAPL has been the subject of a number of analyst reports. Oppenheimer restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. Piper Sandler restated a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $273.00 target price on shares of Apple in a research note on Friday, December 13th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $265.00 price target on shares of Apple in a research report on Tuesday, September 10th. Finally, StockNews.com cut shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $236.78.

Insider Buying and Selling

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated 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 of the company’s stock, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the 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. The trade was a 20.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 508,170 shares of company stock worth $117,004,745. Corporate insiders own 0.06% of the company’s stock.

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.