SRN Advisors LLC Reduces Stake in Apple Inc. (NASDAQ:AAPL)

SRN Advisors LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,198 shares of the iPhone maker’s stock after selling 156 shares during the period. SRN Advisors LLC’s holdings in Apple were worth $978,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bull Oak Capital LLC increased its stake in Apple by 252.3% during the 3rd 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 in the last quarter. Hershey Financial Advisers LLC purchased a new stake in shares of Apple during the second quarter valued at approximately $42,000. Christopher J. Hasenberg Inc increased its position 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 acquiring an additional 144 shares in 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 worth $158,000 after acquiring an additional 173 shares during the last quarter. Finally, Sage Financial Group Inc. bought a new position in Apple in the 2nd quarter valued at approximately $206,000. Institutional investors own 67.73% of the company’s stock.

Insider Buying and Selling

In other news, SVP Katherine L. Adams sold 61,019 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 187,043 shares in the company, valued at approximately $42,309,126.60. This represents a 24.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 508,170 shares of company stock valued at $117,004,745. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AAPL shares. Moffett Nathanson reduced their price objective on Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a report on Tuesday, November 19th. Maxim Group boosted their price objective on shares of Apple from $203.00 to $215.00 and gave the company a “hold” rating in a report on Friday, November 1st. Monness Crespi & Hardt restated a “buy” rating and set a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Finally, Barclays lowered their price target on Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. Two equities 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, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.47.

Apple Trading Up 0.3 %

Shares of AAPL opened at $259.02 on Friday. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $260.10. The stock has a fifty day moving average of $237.00 and a two-hundred day moving average of $227.21. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87. The company has a market capitalization of $3.92 trillion, a PE ratio of 42.60, a price-to-earnings-growth ratio of 2.41 and a beta of 1.23.

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

Apple Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.39%. Apple’s payout ratio is 16.45%.

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.