Adero Partners LLC Has $28.89 Million Position in Apple Inc. (NASDAQ:AAPL)

Adero Partners LLC cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,989 shares of the iPhone maker’s stock after selling 1,096 shares during the quarter. Apple accounts for 1.9% of Adero Partners LLC’s portfolio, making the stock its 13th biggest holding. Adero Partners LLC’s holdings in Apple were worth $28,889,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. High Net Worth Advisory Group LLC increased its stake in Apple by 1.7% in the third quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock valued at $14,916,000 after acquiring an additional 1,066 shares during the period. Granite Investment Partners LLC boosted its holdings in Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock valued at $60,958,000 after purchasing an additional 7,606 shares in the last quarter. Truist Financial Corp grew its stake in shares of Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock valued at $1,473,224,000 after purchasing an additional 126,210 shares during the period. Sterling Investment Counsel LLC raised its holdings in shares of Apple by 3.8% in the 3rd quarter. Sterling Investment Counsel LLC now owns 69,824 shares of the iPhone maker’s stock worth $16,269,000 after buying an additional 2,565 shares in the last quarter. Finally, Silicon Valley Capital Partners lifted its position in shares of Apple by 12.8% during the 3rd quarter. Silicon Valley Capital Partners now owns 253,743 shares of the iPhone maker’s stock worth $59,122,000 after buying an additional 28,799 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $325.00 price target on shares of Apple in a research report on Thursday. Piper Sandler reaffirmed a “neutral” rating and issued a $225.00 target price on shares of Apple in a report on Wednesday, October 9th. The Goldman Sachs Group cut their price target on shares of Apple from $286.00 to $280.00 and set a “buy” rating for the company in a report on Thursday. UBS Group reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Apple in a research note on Monday, December 2nd. Finally, Raymond James lifted their target price on shares of Apple to $250.00 and gave the company a “buy” rating in a research note on Monday, January 20th. Four analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $238.05.

Insider Activity at Apple

In related news, insider Chris Kondo sold 4,130 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 15,419 shares in the company, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s 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 transaction, the chief operating officer now directly owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. The trade was 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 corporate insiders.

Apple Trading Down 0.4 %

NASDAQ:AAPL opened at $222.78 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. Apple Inc. has a 1-year low of $164.07 and a 1-year high of $260.10. The firm 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 business’s 50-day moving average price is $240.93 and its two-hundred day moving average price is $230.69.

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

Apple Announces Dividend

The company 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. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. 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.