Adell Harriman & Carpenter Inc. Sells 1,572 Shares of Apple Inc. (NASDAQ:AAPL)

Adell Harriman & Carpenter Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 394,874 shares of the iPhone maker’s stock after selling 1,572 shares during the quarter. Apple comprises about 6.7% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 3rd largest position. Adell Harriman & Carpenter Inc.’s holdings in Apple were worth $92,006,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AAPL. Bull Oak Capital LLC lifted its position in 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 period. Hershey Financial Advisers LLC purchased a new position in shares of Apple during the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of 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 period. Cordant Inc. lifted its holdings in shares of 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 buying an additional 173 shares during the period. Finally, Sage Financial Group Inc. acquired a new position in Apple during the second quarter worth $206,000. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Evercore ISI restated a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Barclays decreased their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. restated an “overweight” rating and set a $265.00 target price on shares of Apple in a research report on Tuesday, September 10th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Apple in a research note on Tuesday, December 10th. Finally, Monness Crespi & Hardt reaffirmed a “buy” rating and set a $245.00 price objective on shares of Apple in a report on Monday, September 9th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Apple presently has an average rating of “Moderate Buy” and an average price target of $237.47.

Apple Trading Down 1.3 %

NASDAQ AAPL opened at $252.20 on Tuesday. The firm has a market capitalization of $3.81 trillion, a price-to-earnings ratio of 41.48, a PEG ratio of 2.41 and a beta of 1.23. 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’s 50 day moving average price is $237.41 and its 200 day moving average price is $227.89.

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

Apple Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were paid 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 dividend yield of 0.40%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Activity at Apple

In related news, SVP Katherine L. Adams sold 61,019 shares of Apple stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $226.20, for a total transaction of $13,802,497.80. Following the sale, the senior vice president now owns 187,043 shares of the company’s stock, valued at $42,309,126.60. The trade was a 24.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeffrey E. Williams sold 59,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $226.86, for a total value of $13,550,347.80. Following the completion of the transaction, the chief operating officer now directly owns 489,944 shares of the company’s stock, valued at $111,148,695.84. This represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 508,170 shares of company stock worth $117,004,745. 0.06% of the stock is currently owned by company insiders.

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.