Apple Inc. (NASDAQ:AAPL) Stock Position Cut by Galvin Gaustad & Stein LLC

Galvin Gaustad & Stein LLC reduced its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,485 shares of the iPhone maker’s stock after selling 17,368 shares during the quarter. Apple accounts for about 2.6% of Galvin Gaustad & Stein LLC’s investment portfolio, making the stock its 6th largest holding. Galvin Gaustad & Stein LLC’s holdings in Apple were worth $29,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Lantz Financial LLC lifted its position in shares of Apple by 8.6% in the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after buying an additional 2,361 shares during the last quarter. Sinecera Capital LLC raised its position in shares of Apple by 1.1% during the 2nd quarter. Sinecera Capital LLC now owns 9,946 shares of the iPhone maker’s stock worth $2,095,000 after purchasing an additional 109 shares during the period. Raelipskie Partnership lifted its holdings in shares of Apple by 1.5% in the 2nd quarter. Raelipskie Partnership now owns 22,899 shares of the iPhone maker’s stock worth $4,823,000 after purchasing an additional 340 shares during the last quarter. Compton Financial Group LLC boosted its position in Apple by 10.1% during the 2nd quarter. Compton Financial Group LLC now owns 5,446 shares of the iPhone maker’s stock valued at $1,147,000 after purchasing an additional 500 shares during the period. Finally, Everpar Advisors LLC grew its stake in Apple by 14.5% during the 2nd quarter. Everpar Advisors LLC now owns 45,421 shares of the iPhone maker’s stock worth $9,567,000 after buying an additional 5,759 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $228.87, for a total transaction of $945,233.10. Following the completion of the transaction, the insider now owns 15,419 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $24,997,000.00. Following the completion of the sale, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was 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 insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. KeyCorp downgraded shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price target for the company. in a report on Friday, October 25th. Wells Fargo & Company upped their target price on shares of Apple to $275.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Citigroup lifted their price target on Apple to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Moffett Nathanson reissued a “sell” rating and issued a $188.00 price objective (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $250.00 target price on shares of Apple in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

Apple Stock Down 0.5 %

NASDAQ AAPL opened at $233.28 on Wednesday. The stock’s 50 day simple moving average is $240.63 and its 200 day simple moving average is $230.52. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The firm has a market cap of $3.53 trillion, a PE ratio of 38.37, a price-to-earnings-growth ratio of 2.41 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPL) last announced its earnings results 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. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. As a group, sell-side analysts forecast that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Apple 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.