Apple Inc. (NASDAQ:AAPL) Stock Holdings Lessened by Manchester Financial Inc.

Manchester Financial Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,483 shares of the iPhone maker’s stock after selling 1,924 shares during the period. Apple comprises about 3.3% of Manchester Financial Inc.’s investment portfolio, making the stock its 9th largest position. Manchester Financial Inc.’s holdings in Apple were worth $15,025,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AAPL. Amarillo National Bank lifted its stake in shares of Apple by 0.5% during the 3rd quarter. Amarillo National Bank now owns 41,730 shares of the iPhone maker’s stock worth $9,723,000 after purchasing an additional 210 shares during the period. Goldstein Advisors LLC increased its stake in Apple by 2.0% in the third quarter. Goldstein Advisors LLC now owns 31,601 shares of the iPhone maker’s stock valued at $7,363,000 after purchasing an additional 606 shares during the last quarter. AllGen Financial Advisors Inc. lifted its position in Apple by 16.9% during the third quarter. AllGen Financial Advisors Inc. now owns 8,758 shares of the iPhone maker’s stock worth $2,041,000 after buying an additional 1,268 shares during the period. Smith Salley Wealth Management boosted its stake in Apple by 9.2% in the 3rd quarter. Smith Salley Wealth Management now owns 390,796 shares of the iPhone maker’s stock worth $91,056,000 after buying an additional 32,810 shares during the last quarter. Finally, Bristlecone Advisors LLC grew its holdings in Apple by 3.4% in the 3rd quarter. Bristlecone Advisors LLC now owns 217,230 shares of the iPhone maker’s stock valued at $50,614,000 after buying an additional 7,205 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Apple Stock Up 0.3 %

Apple stock opened at $259.02 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company has a 50-day simple moving average of $237.00 and a 200-day simple moving average of $227.21. The firm has a market capitalization of $3.92 trillion, a P/E ratio of 42.60, 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 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. Apple’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Loop Capital decreased their price target on shares of Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. KeyCorp lowered Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research report on Friday, October 25th. Bank of America boosted their price target on Apple to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer restated a “buy” rating and issued a $250.00 price objective on shares of Apple in a report on Tuesday, October 1st. Two research 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $237.47.

Insider Transactions at Apple

In other news, CEO Timothy D. Cook sold 223,986 shares of the company’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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. This represents a 6.39 % decrease in their ownership of the stock. The sale 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 transaction of $945,233.10. Following the completion of the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % 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 quarter. Insiders own 0.06% of the company’s stock.

Apple Company 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.