Campbell Wealth Management Cuts Position in Apple Inc. (NASDAQ:AAPL)

Campbell Wealth Management trimmed its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 38.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,805 shares of the iPhone maker’s stock after selling 8,746 shares during the quarter. Apple accounts for about 0.3% of Campbell Wealth Management’s holdings, making the stock its 22nd largest position. Campbell Wealth Management’s holdings in Apple were worth $3,217,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AAPL. 1620 Investment Advisors Inc. boosted its holdings in shares of Apple by 0.5% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 9,654 shares of the iPhone maker’s stock valued at $2,249,000 after purchasing an additional 45 shares during the last quarter. Carolina Wealth Advisors LLC raised its position in shares of Apple by 1.3% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 3,489 shares of the iPhone maker’s stock worth $813,000 after buying an additional 46 shares during the period. Verus Financial Partners Inc. boosted its holdings in Apple by 0.3% in the second quarter. Verus Financial Partners Inc. now owns 16,929 shares of the iPhone maker’s stock valued at $3,566,000 after acquiring an additional 48 shares during the last quarter. Brown Financial Advisory grew its position in Apple by 3.8% during the second quarter. Brown Financial Advisory now owns 1,364 shares of the iPhone maker’s stock valued at $287,000 after acquiring an additional 50 shares during the period. Finally, Core Wealth Management Inc. increased its stake in Apple by 1.7% during the second 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. 67.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Monness Crespi & Hardt reissued a “buy” rating and issued a $245.00 price objective on shares of Apple in a research report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Apple in a report on Tuesday, December 10th. Jefferies Financial Group downgraded Apple from a “buy” rating to a “hold” rating and increased their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Finally, Oppenheimer restated a “buy” rating and set a $250.00 price objective on shares of Apple in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.03.

Apple Trading Down 0.2 %

Apple stock opened at $243.36 on Friday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $260.10. The company’s fifty day simple moving average is $238.68 and its 200-day simple moving average is $228.69. 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 $3.68 trillion, a P/E ratio of 40.03, a P/E/G ratio of 2.41 and a beta of 1.20.

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

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s payout ratio is 16.45%.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris Kondo sold 4,130 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $228.87, for a total value of $945,233.10. Following the sale, the insider now directly owns 15,419 shares of the company’s stock, 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. Corporate insiders own 0.06% of the company’s stock.

Apple Company 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.