Sageworth Trust Co Trims Holdings in Apple Inc. (NASDAQ:AAPL)

Sageworth Trust Co reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 40.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,356 shares of the iPhone maker’s stock after selling 6,973 shares during the period. Sageworth Trust Co’s holdings in Apple were worth $2,413,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Bull Oak Capital LLC lifted its position in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after acquiring an additional 111 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the second quarter worth $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares in the last quarter. Cordant Inc. boosted its position in shares of Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares during the last quarter. Finally, Sage Financial Group Inc. bought a new stake in Apple in the 2nd quarter worth about $206,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Rosenblatt Securities lifted their target price on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Monness Crespi & Hardt reiterated a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Evercore ISI reissued a “buy” rating and issued a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Maxim Group upped their price target on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Tigress Financial raised their price objective on shares of Apple from $245.00 to $295.00 and gave the stock a “strong-buy” rating in a report on Wednesday, August 28th. Two 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. According to data from MarketBeat, Apple has an average rating of “Moderate Buy” and a consensus price target of $236.78.

Insiders Place Their Bets

In related news, CEO Timothy D. Cook sold 223,986 shares of the business’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 transaction, the chief executive officer now owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 6.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock valued at $117,004,745 over the last three months. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $258.20 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. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $258.21. The business has a 50 day simple moving average of $235.93 and a two-hundred day simple moving average of $226.77. The stock has a market capitalization of $3.90 trillion, a PE ratio of 42.47, a P/E/G ratio of 2.41 and a beta of 1.23.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the firm posted $1.46 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. On average, research analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a yield of 0.39%. Apple’s dividend payout ratio is presently 16.45%.

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.