Mill Creek Capital Advisors LLC Sells 10,969 Shares of Apple Inc. (NASDAQ:AAPL)

Mill Creek Capital Advisors LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 6.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,964 shares of the iPhone maker’s stock after selling 10,969 shares during the quarter. Apple comprises 0.9% of Mill Creek Capital Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. Mill Creek Capital Advisors LLC’s holdings in Apple were worth $37,505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lantz Financial LLC grew its stake in shares of Apple by 8.6% in the 2nd quarter. Lantz Financial LLC now owns 29,751 shares of the iPhone maker’s stock worth $6,266,000 after buying an additional 2,361 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. boosted its holdings in Apple by 7.4% in the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 11,422 shares of the iPhone maker’s stock worth $2,406,000 after acquiring an additional 787 shares in the last quarter. Pathway Financial Advisors LLC boosted its holdings in Apple by 0.5% in the second quarter. Pathway Financial Advisors LLC now owns 21,243 shares of the iPhone maker’s stock worth $4,474,000 after acquiring an additional 104 shares in the last quarter. LVZ Inc. grew its stake in shares of Apple by 21.5% in the second quarter. LVZ Inc. now owns 23,892 shares of the iPhone maker’s stock worth $5,032,000 after acquiring an additional 4,234 shares during the last quarter. Finally, JB Capital LLC increased its holdings in shares of Apple by 14.0% during the second quarter. JB Capital LLC now owns 150,216 shares of the iPhone maker’s stock valued at $31,638,000 after acquiring an additional 18,429 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In related news, insider Chris Kondo sold 4,130 shares of Apple 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’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 in the company, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AAPL. The Goldman Sachs Group dropped their price target on shares of Apple from $286.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday. Oppenheimer reiterated a “buy” rating and set a $250.00 price target on shares of Apple in a report on Tuesday, October 1st. Piper Sandler reissued a “neutral” rating and set a $225.00 price target on shares of Apple in a research report on Wednesday, October 9th. Sanford C. Bernstein upped their price objective on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Rosenblatt Securities lifted their target price on Apple from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.05.

Apple Price Performance

Shares of Apple stock opened at $222.78 on Friday. The company has a market capitalization of $3.35 trillion, a price-to-earnings ratio of 36.64, a PEG ratio of 2.19 and a beta of 1.20. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The stock’s 50-day simple moving average is $240.97 and its 200-day simple moving average is $230.72. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10.

Apple (NASDAQ:AAPL) last announced 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. Apple had a net margin of 23.97% and a return on equity of 152.94%. The business had revenue of $94.93 billion during the quarter, compared to analyst estimates of $94.52 billion. During the same period last year, the firm posted $1.46 EPS. The company’s revenue was up 6.1% on a year-over-year basis. As a group, analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Apple Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, November 8th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is 16.45%.

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.