Apple Inc. (NASDAQ:AAPL) Stake Lessened by Colonial River Investments LLC

Colonial River Investments LLC cut its stake in Apple Inc. (NASDAQ:AAPL) by 33.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,901 shares of the iPhone maker’s stock after selling 22,489 shares during the period. Apple accounts for approximately 5.2% of Colonial River Investments LLC’s portfolio, making the stock its 2nd largest position. Colonial River Investments LLC’s holdings in Apple were worth $10,462,000 at the end of the most recent reporting period.

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

Apple Stock Down 4.0 %

Shares of NASDAQ:AAPL opened at $228.26 on Friday. 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 firm has a market cap of $3.45 trillion, a price-to-earnings ratio of 37.54, a PEG ratio of 2.32 and a beta of 1.20. The stock’s 50-day moving average price is $240.93 and its two-hundred day moving average price is $230.57. 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 analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for 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%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. On average, research analysts forecast that Apple Inc. will post 7.43 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 0.44%. The ex-dividend date was Friday, November 8th. Apple’s dividend payout ratio is presently 16.45%.

Analyst Ratings Changes

Several research analysts have issued reports on AAPL shares. Wells Fargo & Company lifted their target price on shares of Apple to $275.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Jefferies Financial Group cut Apple from a “buy” rating to a “hold” rating and upped their price objective for the company from $205.00 to $212.92 in a research report on Monday, October 7th. Loop Capital reduced their target price on Apple from $300.00 to $275.00 and set a “buy” rating for the company in a report on Monday, November 4th. New Street Research reaffirmed a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, September 25th. Finally, KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.85.

Insider Buying and Selling at Apple

In related 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 value of $945,233.10. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The stock was 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 owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade 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 corporate insiders.

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.