Northern Financial Advisors Inc Sells 187 Shares of Apple Inc. (NASDAQ:AAPL)

Northern Financial Advisors Inc lowered its holdings in Apple Inc. (NASDAQ:AAPL) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,527 shares of the iPhone maker’s stock after selling 187 shares during the quarter. Apple comprises approximately 3.5% of Northern Financial Advisors Inc’s investment portfolio, making the stock its 3rd largest holding. Northern Financial Advisors Inc’s holdings in Apple were worth $4,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. High Net Worth Advisory Group LLC grew its holdings in shares of Apple by 1.7% during the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after buying an additional 1,066 shares during the last quarter. Granite Investment Partners LLC increased its stake in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after buying an additional 7,606 shares during the last quarter. Truist Financial Corp lifted its holdings in Apple by 1.8% during the second quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after acquiring an additional 126,210 shares during the period. Sterling Investment Counsel LLC lifted its holdings in Apple by 3.8% during the third quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after acquiring an additional 2,565 shares during the period. Finally, EP Wealth Advisors LLC boosted its position in Apple by 5.2% in the second quarter. EP Wealth Advisors LLC now owns 1,928,110 shares of the iPhone maker’s stock worth $406,099,000 after purchasing an additional 95,235 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AAPL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $260.00 target price on shares of Apple in a research report on Tuesday, December 10th. Piper Sandler reissued a “neutral” rating and set a $225.00 target price on shares of Apple in a research report on Wednesday, October 9th. Moffett Nathanson lowered their price target on shares of Apple from $211.00 to $202.00 and set a “neutral” rating on the stock in a report on Tuesday, November 19th. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their price target for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Finally, Citigroup lifted their price objective on Apple to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two equities research 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 given a strong buy rating to the company. According to MarketBeat.com, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $238.03.

Apple Trading Down 0.2 %

Shares of Apple stock opened at $243.36 on Monday. The company has a 50 day simple moving average of $238.91 and a two-hundred day simple moving average of $229.08. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $3.68 trillion, a PE ratio of 40.03, a PEG ratio of 2.41 and a beta of 1.20.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, topping 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 analyst estimates of $94.52 billion. During the same period 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. Analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

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

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

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.