Birchcreek Wealth Management LLC Sells 1,027 Shares of Apple Inc. (NASDAQ:AAPL)

Birchcreek Wealth Management LLC lowered its position in shares of Apple Inc. (NASDAQ:AAPL) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,734 shares of the iPhone maker’s stock after selling 1,027 shares during the quarter. Apple comprises 3.2% of Birchcreek Wealth Management LLC’s portfolio, making the stock its 8th largest position. Birchcreek Wealth Management LLC’s holdings in Apple were worth $4,831,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bull Oak Capital LLC lifted its position in Apple by 252.3% in the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after purchasing an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new stake in shares of Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Apple by 88.9% during the 3rd 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 during the last quarter. ARK Investment Management LLC acquired a new stake in shares of Apple during the 3rd quarter valued at $110,000. Finally, Cordant Inc. lifted its position in shares of Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after acquiring an additional 173 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AAPL shares. Evercore ISI reiterated a “buy” rating and set a $250.00 price objective on shares of Apple in a research report on Thursday, September 26th. Bank of America reiterated a “buy” rating and set a $256.00 price objective on shares of Apple in a research report on Friday, January 3rd. KeyCorp downgraded Apple from a “sector weight” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Friday, October 25th. Barclays cut their price objective on Apple from $184.00 to $183.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Morgan Stanley restated an “overweight” rating and issued a $273.00 target price on shares of Apple in a report on Friday, December 13th. Four investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $238.14.

Insider Buying and Selling at Apple

In other news, COO Jeffrey E. Williams sold 100,000 shares of the business’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 value of $24,997,000.00. Following the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $97,474,301.68. The trade was a 20.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $945,233.10. Following the completion of the sale, the insider now directly 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. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Down 0.1 %

AAPL opened at $223.66 on Friday. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. 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 $3.36 trillion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20. The company has a fifty day moving average price of $241.07 and a two-hundred day moving average price of $230.77.

Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion during the quarter, compared to analysts’ expectations of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. Analysts predict that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio (DPR) is presently 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.