Eagle Bay Advisors LLC Has $13.68 Million Position in Apple Inc. (NASDAQ:AAPL)

Eagle Bay Advisors LLC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,718 shares of the iPhone maker’s stock after selling 463 shares during the quarter. Apple comprises 5.2% of Eagle Bay Advisors LLC’s holdings, making the stock its largest position. Eagle Bay Advisors LLC’s holdings in Apple were worth $13,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of AAPL. Iron Horse Wealth Management LLC increased its stake in shares of Apple by 5.3% during the third quarter. Iron Horse Wealth Management LLC now owns 4,812 shares of the iPhone maker’s stock worth $1,121,000 after purchasing an additional 241 shares during the period. Sterling Investment Counsel LLC grew its holdings in Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock valued at $16,269,000 after buying an additional 2,565 shares in the last quarter. Coston McIsaac & Partners increased its position in Apple by 3.4% during the 3rd quarter. Coston McIsaac & Partners now owns 61,888 shares of the iPhone maker’s stock worth $14,419,000 after buying an additional 2,040 shares during the period. Altus Wealth Group LLC lifted its holdings in shares of Apple by 2.6% during the third quarter. Altus Wealth Group LLC now owns 31,547 shares of the iPhone maker’s stock worth $7,350,000 after buying an additional 805 shares in the last quarter. Finally, Rebalance LLC boosted its position in shares of Apple by 11.1% in the third quarter. Rebalance LLC now owns 10,923 shares of the iPhone maker’s stock valued at $2,545,000 after acquiring an additional 1,087 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $254.49 on Friday. The company has a market capitalization of $3.85 trillion, a price-to-earnings ratio of 41.86, a PEG ratio of 2.41 and a beta of 1.23. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $255.00. The stock has a fifty day simple moving average of $234.97 and a 200 day simple moving average of $225.48.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. Sell-side analysts expect that Apple Inc. will post 7.43 EPS for the current 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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is currently 16.45%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AAPL shares. Citigroup lifted their price objective on shares of Apple to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Oppenheimer reiterated a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Tuesday, October 1st. Rosenblatt Securities increased their price target on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Bank of America lifted their price objective on Apple to $256.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Loop Capital reduced their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Insider Transactions at Apple

In related news, CEO Timothy D. Cook sold 223,986 shares of the firm’s stock in a transaction that occurred 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 owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock worth $117,004,745 over the last three months. 0.06% of the stock is owned by company insiders.

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.