Park Edge Advisors LLC Has $2.31 Million Position in Apple Inc. (NASDAQ:AAPL)

Park Edge Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,907 shares of the iPhone maker’s stock after selling 429 shares during the period. Apple accounts for 0.7% of Park Edge Advisors LLC’s portfolio, making the stock its 26th largest holding. Park Edge Advisors LLC’s holdings in Apple were worth $2,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bull Oak Capital LLC increased its holdings in shares of Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. Hershey Financial Advisers LLC bought a new stake in shares of Apple during the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc grew its stake in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the last quarter. Cordant Inc. raised its holdings in Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the period. Finally, Sage Financial Group Inc. acquired a new stake in Apple during the second quarter worth approximately $206,000. 67.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AAPL has been the topic of several research reports. Wedbush upped their target price on Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday. Loop Capital decreased their price objective on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and lifted their target price for the stock from $205.00 to $212.92 in a report on Monday, October 7th. Evercore ISI restated a “buy” rating and issued a $250.00 price target on shares of Apple in a research note on Thursday, September 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Apple to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Two 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 given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $237.47.

Apple Price Performance

Shares of AAPL opened at $259.02 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock has a market cap of $3.92 trillion, a PE ratio of 42.60, a PEG ratio of 2.41 and a beta of 1.23. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The business has a 50-day simple moving average of $237.00 and a two-hundred day simple moving average of $227.21.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. Analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.39%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Transactions at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’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 transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $226.20, for a total value of $13,802,497.80. Following the transaction, the senior vice president now owns 187,043 shares in the company, valued at $42,309,126.60. The trade was a 24.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 508,170 shares of company stock worth $117,004,745. Company insiders own 0.06% of the company’s stock.

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.