Del Sette Capital Management LLC Decreases Position in Apple Inc. (NASDAQ:AAPL)

Del Sette Capital Management LLC decreased its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,785 shares of the iPhone maker’s stock after selling 1,075 shares during the quarter. Apple comprises about 3.1% of Del Sette Capital Management LLC’s portfolio, making the stock its 15th biggest holding. Del Sette Capital Management LLC’s holdings in Apple were worth $3,911,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. FMB Wealth Management grew its holdings in shares of Apple by 2.7% during the 3rd quarter. FMB Wealth Management now owns 19,291 shares of the iPhone maker’s stock worth $4,495,000 after purchasing an additional 500 shares during the period. Retirement Solution LLC lifted its holdings in Apple by 165.3% during the 3rd quarter. Retirement Solution LLC now owns 32,845 shares of the iPhone maker’s stock worth $7,653,000 after buying an additional 20,467 shares in the last quarter. Costello Asset Management INC raised its stake in shares of Apple by 8.5% in the third quarter. Costello Asset Management INC now owns 7,939 shares of the iPhone maker’s stock valued at $1,850,000 after acquiring an additional 620 shares in the last quarter. Avid Wealth Partners LLC boosted its stake in shares of Apple by 11.1% in the 3rd quarter. Avid Wealth Partners LLC now owns 3,652 shares of the iPhone maker’s stock valued at $851,000 after buying an additional 365 shares during the period. Finally, Summit Wealth & Retirement Planning Inc. grew its holdings in Apple by 21.8% during the 3rd quarter. Summit Wealth & Retirement Planning Inc. now owns 28,062 shares of the iPhone maker’s stock worth $6,538,000 after acquiring an additional 5,021 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AAPL. Bank of America restated a “buy” rating and issued a $256.00 target price on shares of Apple in a report on Friday, January 3rd. Loop Capital dropped their target price on Apple from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a report on Wednesday, October 9th. Evercore ISI restated a “buy” rating and set a $250.00 target price on shares of Apple in a research report on Thursday, September 26th. Finally, Oppenheimer reissued a “buy” rating and set a $250.00 price target 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 issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.85.

Apple Price Performance

Shares of AAPL opened at $228.26 on Friday. The stock has a market capitalization of $3.45 trillion, a P/E ratio of 37.54, a P/E/G ratio of 2.32 and a beta of 1.20. Apple Inc. has a twelve month low of $164.07 and a twelve month high of $260.10. The company has a 50 day moving average of $240.93 and a 200-day moving average of $230.57. 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 (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share 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 for the quarter, compared to analyst estimates of $94.52 billion. During the same period in the previous year, the business earned $1.46 EPS. Apple’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were given a $0.25 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.44%. Apple’s payout ratio is presently 16.45%.

Insiders Place Their Bets

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of the 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction on Monday, November 18th. The stock was sold at an average price of $228.87, for a total transaction of $945,233.10. Following the transaction, the insider now 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 disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.

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.