Apple Inc. (NASDAQ:AAPL) Shares Sold by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 23,994 shares of the iPhone maker’s stock after selling 344 shares during the period. Pathway Financial Advisers LLC’s holdings in Apple were worth $5,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Carolina Wealth Advisors LLC grew its position in Apple by 1.3% in the third quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after acquiring an additional 46 shares in the last quarter. Verus Financial Partners Inc. grew its stake in Apple by 0.3% in the 2nd quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after buying an additional 48 shares during the last quarter. Brown Financial Advisory raised its holdings in Apple by 3.8% in the 2nd quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock worth $287,000 after acquiring an additional 50 shares during the period. Core Wealth Management Inc. lifted its position in Apple by 1.7% during the 2nd quarter. Core Wealth Management Inc. now owns 2,968 shares of the iPhone maker’s stock worth $625,000 after acquiring an additional 50 shares during the last quarter. Finally, Lowery Thomas LLC boosted its holdings in Apple by 0.7% during the second quarter. Lowery Thomas LLC now owns 7,607 shares of the iPhone maker’s stock valued at $1,602,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Price Performance

Apple stock opened at $252.20 on Tuesday. The stock has a market cap of $3.81 trillion, a price-to-earnings ratio of 41.48, a P/E/G 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 company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The business’s 50-day simple moving average is $237.41 and its 200 day simple moving average is $227.89.

Apple (NASDAQ:AAPL) last issued its quarterly 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter in the previous year, the company earned $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.40%. Apple’s dividend payout ratio is currently 16.45%.

Insider Buying and Selling

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction dated 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. The trade was a 21.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $249.97, for a total transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares in the company, valued at $97,474,301.68. This represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 508,170 shares of company stock valued at $117,004,745 over the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

AAPL has been the subject of several research analyst reports. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $205.00 to $212.92 in a research report on Monday, October 7th. Morgan Stanley reissued an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. Wells Fargo & Company upped their target price on shares of Apple to $275.00 and gave the company a “buy” rating in a research note on Monday, December 9th. New Street Research restated a “neutral” rating and issued a $225.00 price target on shares of Apple in a research report on Wednesday, September 25th. Finally, Barclays cut their price objective on shares of Apple from $186.00 to $184.00 and set an “underweight” rating for the company in a research report on Friday, November 1st. 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 issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.