Capital Management Corp VA Reduces Stake in Apple Inc. (NASDAQ:AAPL)

Capital Management Corp VA cut its position in Apple Inc. (NASDAQ:AAPL) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,760 shares of the iPhone maker’s stock after selling 225 shares during the quarter. Capital Management Corp VA’s holdings in Apple were worth $876,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AAPL. Lantz Financial LLC lifted its position in Apple by 8.6% during the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after acquiring an additional 2,361 shares during the period. Addenda Capital Inc. lifted its holdings in shares of Apple by 9.8% in the 2nd quarter. Addenda Capital Inc. now owns 143,716 shares of the iPhone maker’s stock valued at $30,269,000 after buying an additional 12,848 shares during the period. Tsfg LLC lifted its holdings in shares of Apple by 10.9% in the 2nd quarter. Tsfg LLC now owns 53,451 shares of the iPhone maker’s stock valued at $11,258,000 after buying an additional 5,233 shares during the period. Holland Advisory Services Inc. lifted its holdings in shares of Apple by 3.9% in the 2nd quarter. Holland Advisory Services Inc. now owns 8,073 shares of the iPhone maker’s stock valued at $1,700,000 after buying an additional 306 shares during the period. Finally, Key Client Fiduciary Advisors LLC lifted its holdings in shares of Apple by 2.9% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 51,290 shares of the iPhone maker’s stock valued at $10,803,000 after buying an additional 1,432 shares during the period. 67.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Apple

In other Apple 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 transaction, the insider now owns 15,419 shares in the company, valued at $3,528,946.53. The trade was a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the business’s stock in a transaction dated 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 owns 389,944 shares in the company, valued at approximately $97,474,301.68. This represents a 20.41 % decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and raised their price target for the company from $205.00 to $212.92 in a report on Monday, October 7th. Piper Sandler reissued a “neutral” rating and issued a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Evercore ISI reissued a “buy” rating and issued a $250.00 price target on shares of Apple in a report on Thursday, September 26th. Sanford C. Bernstein raised their price target on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Loop Capital dropped their price objective on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and a consensus target price of $237.64.

Apple Price Performance

Shares of Apple stock opened at $242.70 on Thursday. 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 $3.67 trillion, a P/E ratio of 39.92, 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. The business’s fifty day moving average price is $239.57 and its 200 day moving average price is $229.66.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The firm had revenue of $94.93 billion for the quarter, compared to analysts’ expectations of $94.52 billion. During the same quarter last year, the firm earned $1.46 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts anticipate that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

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

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.