Rockbridge Investment Management LCC Has $6.69 Million Stock Position in Apple Inc. (NASDAQ:AAPL)

Rockbridge Investment Management LCC reduced its stake in Apple Inc. (NASDAQ:AAPL) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,692 shares of the iPhone maker’s stock after selling 767 shares during the quarter. Apple comprises 0.9% of Rockbridge Investment Management LCC’s holdings, making the stock its 21st largest position. Rockbridge Investment Management LCC’s holdings in Apple were worth $6,685,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Bull Oak Capital LLC grew its holdings in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new stake in Apple during the second quarter worth about $42,000. Christopher J. Hasenberg Inc grew its stake in Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares in the last quarter. ARK Investment Management LLC bought a new position in Apple in the 3rd quarter valued at about $110,000. Finally, Cordant Inc. raised its position in shares of Apple by 34.3% in the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after buying an additional 173 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Loop Capital lowered their price objective 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 reissued a “sell” rating and set a $188.00 price target (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. StockNews.com downgraded Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Barclays lifted their target price on Apple to $184.00 and gave the company a “sell” rating in a research report on Friday, January 10th. Finally, KeyCorp cut shares of Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 target price for the company. in a report on Friday, October 25th. Three investment 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.85.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple 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 completion of the transaction, the chief operating officer now owns 389,944 shares in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $945,233.10. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,528,946.53. This represents a 21.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Apple Stock Performance

AAPL opened at $233.28 on Wednesday. The company’s 50 day moving average is $240.63 and its 200 day moving average is $230.52. 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 company has a market cap of $3.53 trillion, a price-to-earnings ratio of 38.37, a PEG ratio of 2.41 and a beta of 1.20. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $260.10.

Apple (NASDAQ:AAPL) last released its earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping 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 company had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period in the prior year, the firm posted $1.46 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts predict that Apple Inc. will post 7.43 EPS for the current year.

Apple Announces Dividend

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

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.