Apple Inc. (NASDAQ:AAPL) is Indie Asset Partners LLC’s 2nd Largest Position

Indie Asset Partners LLC lowered its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,880 shares of the iPhone maker’s stock after selling 649 shares during the quarter. Apple comprises about 6.4% of Indie Asset Partners LLC’s portfolio, making the stock its 2nd biggest holding. Indie Asset Partners LLC’s holdings in Apple were worth $8,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in AAPL. Emerald Mutual Fund Advisers Trust grew its stake in shares of Apple by 6.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 9,026 shares of the iPhone maker’s stock valued at $2,103,000 after buying an additional 509 shares in the last quarter. Prossimo Advisors LLC purchased a new position in Apple during the 3rd quarter valued at about $7,418,000. Conservest Capital Advisors Inc. grew its position in Apple by 3.4% in the 3rd quarter. Conservest Capital Advisors Inc. now owns 18,054 shares of the iPhone maker’s stock valued at $4,207,000 after acquiring an additional 588 shares in the last quarter. Arcadia Investment Management Corp MI increased its stake in Apple by 1.1% during the third quarter. Arcadia Investment Management Corp MI now owns 119,862 shares of the iPhone maker’s stock worth $27,928,000 after purchasing an additional 1,350 shares during the period. Finally, New Covenant Trust Company N.A. lifted its position in shares of Apple by 12.8% during the third quarter. New Covenant Trust Company N.A. now owns 18,667 shares of the iPhone maker’s stock worth $4,252,000 after purchasing an additional 2,119 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Down 0.2 %

Apple stock opened at $243.36 on Monday. The stock has a 50 day moving average of $238.91 and a two-hundred day moving average of $229.08. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The stock has a market capitalization of $3.68 trillion, a price-to-earnings ratio of 40.03, a PEG ratio of 2.41 and a beta of 1.20. 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 results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 152.94% and a net margin of 23.97%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. As a group, research analysts expect that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders 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 dividend yield of 0.41%. Apple’s dividend payout ratio (DPR) is 16.45%.

Insider Transactions at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of Apple 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 owns 15,419 shares of the company’s stock, valued at approximately $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AAPL shares. KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a report on Friday, October 25th. Oppenheimer reaffirmed a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Tuesday, October 1st. UBS Group reiterated a “neutral” rating and issued a $236.00 target price on shares of Apple in a report on Monday, December 2nd. Rosenblatt Securities boosted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $250.00 price target on shares of Apple in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.03.

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.