Courier Capital LLC Sells 2,720 Shares of Apple Inc. (NASDAQ:AAPL)

Courier Capital LLC lessened its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,858 shares of the iPhone maker’s stock after selling 2,720 shares during the quarter. Apple accounts for about 4.7% of Courier Capital LLC’s investment portfolio, making the stock its 3rd largest position. Courier Capital LLC’s holdings in Apple were worth $68,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Carolina Wealth Advisors LLC increased its position in Apple by 1.3% during the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after acquiring an additional 46 shares during the period. Verus Financial Partners Inc. grew its position in shares of Apple by 0.3% during the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock worth $3,566,000 after purchasing an additional 48 shares in the last quarter. Brown Financial Advisory increased its holdings in shares of Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after purchasing an additional 50 shares during the period. Core Wealth Management Inc. raised its position in shares of Apple by 1.7% in the second quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock valued at $625,000 after buying an additional 50 shares in the last quarter. Finally, Lowery Thomas LLC boosted its stake in shares of Apple by 0.7% in the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Apple Trading Up 1.9 %

NASDAQ AAPL opened at $254.49 on Friday. The stock has a market capitalization of $3.85 trillion, a P/E ratio of 41.86, a P/E/G ratio of 2.41 and a beta of 1.23. The business has a 50 day simple moving average of $234.97 and a 200 day simple moving average of $225.48. 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 one year low of $164.07 and a one year high of $255.00.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter last year, the firm posted $1.46 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The business also recently disclosed 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 was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s dividend payout ratio is currently 16.45%.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at approximately $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction 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 trade represents a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 508,170 shares of company stock valued at $117,004,745 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Rosenblatt Securities lifted their price objective on Apple from $261.00 to $262.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Apple in a research report on Wednesday, October 9th. Melius Research reissued a “buy” rating and issued a $265.00 target price on shares of Apple in a report on Tuesday, August 27th. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Finally, Barclays decreased their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a research note 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $236.78.

About Apple

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.