Cornerstone Capital Inc. Sells 807 Shares of Apple Inc. (NASDAQ:AAPL)

Cornerstone Capital Inc. lessened its stake in Apple Inc. (NASDAQ:AAPL) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,608 shares of the iPhone maker’s stock after selling 807 shares during the period. Cornerstone Capital Inc.’s holdings in Apple were worth $10,860,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Falcon Wealth Planning raised its position in shares of Apple by 0.4% during the 3rd quarter. Falcon Wealth Planning now owns 269,437 shares of the iPhone maker’s stock valued at $62,779,000 after acquiring an additional 1,190 shares during the last quarter. Crestwood Advisors Group LLC raised its position in shares of Apple by 0.4% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,458,210 shares of the iPhone maker’s stock valued at $339,755,000 after acquiring an additional 6,092 shares during the last quarter. Hanlon Investment Management Inc. raised its position in shares of Apple by 17.0% during the 3rd quarter. Hanlon Investment Management Inc. now owns 18,398 shares of the iPhone maker’s stock valued at $4,287,000 after acquiring an additional 2,677 shares during the last quarter. Pittenger & Anderson Inc. raised its position in shares of Apple by 0.4% during the 3rd quarter. Pittenger & Anderson Inc. now owns 243,299 shares of the iPhone maker’s stock valued at $56,689,000 after acquiring an additional 934 shares during the last quarter. Finally, Geneva Partners LLC raised its position in shares of Apple by 3.3% during the 3rd quarter. Geneva Partners LLC now owns 65,926 shares of the iPhone maker’s stock valued at $15,126,000 after acquiring an additional 2,100 shares during the last quarter. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AAPL. Loop Capital dropped their target price on shares of Apple from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Moffett Nathanson restated a “sell” rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a research report on Tuesday. Wells Fargo & Company upped their price objective on shares of Apple to $275.00 and gave the company a “buy” rating in a research report on Monday, December 9th. 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 research report on Friday, October 25th. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 price objective on shares of Apple in a research report on Friday, December 13th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.64.

Apple Trading Up 0.2 %

Shares of NASDAQ:AAPL opened at $242.70 on Friday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a market capitalization of $3.67 trillion, a P/E ratio of 39.92, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company has a 50-day simple moving average of $239.91 and a 200 day simple moving average of $229.75. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating 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 business had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the business posted $1.46 EPS. Apple’s revenue was up 6.1% on a year-over-year basis. Sell-side analysts forecast 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 paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a yield of 0.41%. Apple’s dividend payout ratio (DPR) is currently 16.45%.

Insider Buying and Selling at Apple

In other Apple news, insider Chris Kondo sold 4,130 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $228.87, for a total value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This represents a 21.13 % decrease in their position. The transaction was disclosed in a legal 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 dated 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 transaction, the chief operating officer now directly owns 389,944 shares in the company, valued at approximately $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 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.