Apple Inc. (NASDAQ:AAPL) is Advisors Management Group Inc. ADV’s 9th Largest Position

Advisors Management Group Inc. ADV cut its stake in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,256 shares of the iPhone maker’s stock after selling 344 shares during the period. Apple comprises approximately 2.4% of Advisors Management Group Inc. ADV’s investment portfolio, making the stock its 9th largest holding. Advisors Management Group Inc. ADV’s holdings in Apple were worth $10,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of AAPL. Bull Oak Capital LLC grew its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in shares of Apple in the 2nd quarter worth about $42,000. Christopher J. Hasenberg Inc grew its position in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares during the period. Cordant Inc. increased its holdings in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the last quarter. Finally, EMC Capital Management raised its position in Apple by 7.3% in the third quarter. EMC Capital Management now owns 892 shares of the iPhone maker’s stock worth $201,000 after acquiring an additional 61 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AAPL has been the subject of a number of research reports. Wedbush increased their target price on shares of Apple from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, December 26th. Citigroup increased their price objective on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Oppenheimer restated a “buy” rating and issued a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Maxim Group increased their price target on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group cut shares of 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 note on Monday, October 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average price target of $239.85.

Insider Activity at Apple

In other 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 directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This trade represents a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 of the company’s stock, 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 currently owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $236.85 on Friday. The firm has a market cap of $3.58 trillion, a price-to-earnings ratio of 38.96, a PEG ratio of 2.41 and a beta of 1.20. The company has a 50-day simple moving average of $240.18 and a two-hundred day simple moving average of $230.10. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10.

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 the consensus estimate of $1.60 by $0.04. The company had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a return on equity of 152.94% and a net margin of 23.97%. Apple’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 EPS. On average, equities analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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. This represents a $1.00 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, November 8th. Apple’s payout ratio is 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.