Apple Inc. (NASDAQ:AAPL) Shares Acquired by Canal Capital Management LLC

Canal Capital Management LLC grew its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 124,656 shares of the iPhone maker’s stock after acquiring an additional 888 shares during the quarter. Apple comprises approximately 4.6% of Canal Capital Management LLC’s holdings, making the stock its 2nd largest position. Canal Capital Management LLC’s holdings in Apple were worth $29,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blackston Financial Advisory Group LLC grew its holdings in Apple by 10.1% during the third quarter. Blackston Financial Advisory Group LLC now owns 25,358 shares of the iPhone maker’s stock worth $5,909,000 after acquiring an additional 2,330 shares during the period. Heritage Financial Services LLC boosted its stake in Apple by 9.0% in the 3rd quarter. Heritage Financial Services LLC now owns 36,619 shares of the iPhone maker’s stock worth $8,532,000 after purchasing an additional 3,036 shares during the period. Ballentine Partners LLC grew its position in Apple by 3.5% during the 3rd quarter. Ballentine Partners LLC now owns 345,869 shares of the iPhone maker’s stock worth $80,587,000 after purchasing an additional 11,707 shares in the last quarter. Garrison Point Advisors LLC raised its stake in Apple by 0.5% during the 3rd quarter. Garrison Point Advisors LLC now owns 30,790 shares of the iPhone maker’s stock valued at $7,174,000 after purchasing an additional 149 shares during the period. Finally, Freedom Day Solutions LLC boosted its position in shares of Apple by 1.2% in the third quarter. Freedom Day Solutions LLC now owns 43,825 shares of the iPhone maker’s stock worth $10,211,000 after buying an additional 508 shares during the period. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was 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 $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy D. Cook sold 223,986 shares of the business’s 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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. This 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 sold 508,170 shares of company stock worth $117,004,745. 0.06% of the stock is owned by insiders.

Apple Stock Performance

NASDAQ AAPL opened at $255.27 on Tuesday. The company’s fifty day moving average is $234.97 and its two-hundred day moving average is $225.91. The firm has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 41.99, a P/E/G ratio of 2.41 and a beta of 1.23. 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 52-week low of $164.07 and a 52-week high of $255.65.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts forecast 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. Shareholders of record on Monday, November 11th were paid a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s payout ratio is presently 16.45%.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Jefferies Financial Group downgraded shares of Apple from a “buy” rating to a “hold” rating and boosted their price objective for the company from $205.00 to $212.92 in a research report on Monday, October 7th. UBS Group reiterated a “neutral” rating and issued a $236.00 target price on shares of Apple in a research report on Monday, December 2nd. Oppenheimer restated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Finally, Rosenblatt Securities increased their price objective on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two 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 given a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus 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.