Inscription Capital LLC Reduces Position in Apple Inc. (NASDAQ:AAPL)

Inscription Capital LLC cut its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,124 shares of the iPhone maker’s stock after selling 4,596 shares during the period. Apple makes up 4.6% of Inscription Capital LLC’s portfolio, making the stock its 3rd biggest position. Inscription Capital LLC’s holdings in Apple were worth $31,018,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lantz Financial LLC lifted its position in Apple by 8.6% during the second quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock valued at $6,266,000 after purchasing an additional 2,361 shares in the last quarter. Trinity Financial Advisors LLC raised its position in Apple by 2.3% during the second quarter. Trinity Financial Advisors LLC now owns 29,427 shares of the iPhone maker’s stock valued at $6,198,000 after purchasing an additional 653 shares during the period. Foresight Capital Management Advisors Inc. boosted its stake in shares of Apple by 0.3% during the 2nd quarter. Foresight Capital Management Advisors Inc. now owns 19,005 shares of the iPhone maker’s stock worth $4,003,000 after purchasing an additional 55 shares during the period. MADDEN SECURITIES Corp increased its stake in Apple by 0.3% in the second quarter. MADDEN SECURITIES Corp now owns 31,487 shares of the iPhone maker’s stock worth $6,632,000 after purchasing an additional 90 shares during the period. Finally, Guinness Asset Management LTD grew its stake in Apple by 3.8% in the second quarter. Guinness Asset Management LTD now owns 156,985 shares of the iPhone maker’s stock worth $33,074,000 after purchasing an additional 5,759 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Apple Stock Down 1.3 %

Shares of NASDAQ:AAPL opened at $255.59 on Friday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10. The company has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.41 and a beta of 1.23. The business has a 50-day moving average price of $237.41 and a 200 day moving average price of $227.79. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 1.51.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $94.52 billion. During the same period in the prior year, the business posted $1.46 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were paid 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 yield of 0.39%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Buying and Selling at Apple

In other Apple news, SVP Katherine L. Adams sold 61,019 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 187,043 shares of the company’s stock, 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 is available at this link. Also, CEO Timothy D. Cook sold 223,986 shares of Apple 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 sale, the chief executive officer now directly owns 3,280,180 shares of the company’s stock, valued at approximately $736,269,202.80. This trade represents a 6.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 508,170 shares of company stock valued at $117,004,745 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AAPL. Bank of America increased their target price on Apple to $256.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Moffett Nathanson reduced their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating for the company in a research report on Tuesday, November 19th. New Street Research reiterated a “neutral” rating and set a $225.00 price objective on shares of Apple in a research note on Wednesday, September 25th. UBS Group reissued a “neutral” rating and issued a $236.00 price objective on shares of Apple in a report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a report on Tuesday, December 10th. Two equities research 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, the company has an average rating of “Moderate Buy” and an average target price of $237.47.

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.