Apple Inc. (NASDAQ:AAPL) Position Decreased by Coastline Trust Co

Coastline Trust Co lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 4.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,770 shares of the iPhone maker’s stock after selling 9,123 shares during the period. Apple makes up approximately 5.0% of Coastline Trust Co’s portfolio, making the stock its 2nd biggest holding. Coastline Trust Co’s holdings in Apple were worth $42,585,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AAPL. First Long Island Investors LLC raised its holdings in shares of Apple by 91.5% in the 3rd quarter. First Long Island Investors LLC now owns 163,068 shares of the iPhone maker’s stock worth $37,995,000 after purchasing an additional 77,914 shares during the period. Altrius Capital Management Inc raised its holdings in shares of Apple by 7.2% in the 3rd quarter. Altrius Capital Management Inc now owns 4,294 shares of the iPhone maker’s stock worth $1,001,000 after purchasing an additional 288 shares during the period. Valley Wealth Managers Inc. raised its holdings in shares of Apple by 1.3% in the 3rd quarter. Valley Wealth Managers Inc. now owns 205,177 shares of the iPhone maker’s stock worth $47,806,000 after purchasing an additional 2,579 shares during the period. Empirical Finance LLC raised its holdings in shares of Apple by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 515,494 shares of the iPhone maker’s stock worth $120,110,000 after purchasing an additional 9,628 shares during the period. Finally, BluePointe Capital Management LLC raised its holdings in shares of Apple by 2.6% in the 3rd quarter. BluePointe Capital Management LLC now owns 13,733 shares of the iPhone maker’s stock worth $3,200,000 after purchasing an additional 354 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Apple Stock Down 0.1 %

Shares of AAPL stock opened at $223.66 on Friday. The company has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 36.79, a PEG ratio of 2.18 and a beta of 1.20. Apple Inc. has a one year low of $164.07 and a one year high of $260.10. The company’s fifty day moving average price is $241.07 and its 200-day moving average price is $230.77. 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 posted 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. During the same period in the previous year, the firm posted $1.46 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts expect that Apple Inc. will post 7.43 EPS 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 issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio is currently 16.45%.

Wall Street Analysts Forecast Growth

AAPL has been the topic of a number of research reports. Rosenblatt Securities lifted their price target on shares of Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Moffett Nathanson reissued a “sell” rating and set a $188.00 target price (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Monness Crespi & Hardt boosted their target price on shares of Apple to $245.00 and gave the company a “buy” rating in a report on Wednesday. Loop Capital cut shares of Apple from a “buy” rating to a “hold” rating and set a $230.00 target price on the stock. in a report on Tuesday. Finally, Jefferies Financial Group cut shares of Apple from a “hold” rating to an “underperform” rating and lowered their target price for the company from $211.84 to $200.75 in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average price target of $238.14.

Insider Activity

In other Apple news, COO Jeffrey E. Williams sold 100,000 shares of Apple 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 in the company, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chris Kondo sold 4,130 shares of Apple stock in a transaction dated 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 owns 15,419 shares of the company’s stock, valued at $3,528,946.53. The trade was 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.

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.