Pettinga Financial Advisors LLC Decreases Holdings in Apple Inc. (NASDAQ:AAPL)

Pettinga Financial Advisors LLC lowered its stake in shares of Apple Inc. (NASDAQ:AAPLFree Report) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,325 shares of the iPhone maker’s stock after selling 297 shares during the period. Apple accounts for 2.6% of Pettinga Financial Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Pettinga Financial Advisors LLC’s holdings in Apple were worth $11,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bull Oak Capital LLC increased its stake in shares of 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 in the last quarter. Hershey Financial Advisers LLC bought a new position in Apple in the 2nd quarter worth approximately $42,000. Christopher J. Hasenberg Inc grew its stake in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after buying an additional 144 shares in the last quarter. Cordant Inc. raised its holdings in 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 period. Finally, Sage Financial Group Inc. purchased a new stake in shares of Apple during the second quarter worth $206,000. Institutional investors own 67.73% of the company’s stock.

Apple Stock Performance

Shares of Apple stock opened at $222.78 on Friday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $260.10. The firm’s 50-day moving average is $240.93 and its 200 day moving average is $230.69. The stock has a market cap 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 debt-to-equity ratio of 1.51, a current ratio of 0.87 and a quick ratio of 0.83.

Apple (NASDAQ:AAPLGet Free Report) last released its quarterly earnings data on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Apple had a return on equity of 152.94% and a net margin of 23.97%. The company had revenue of $94.93 billion during the quarter, compared to the consensus estimate of $94.52 billion. During the same period last year, the company earned $1.46 EPS. Apple’s revenue for the quarter was up 6.1% on a year-over-year basis. Sell-side analysts anticipate that Apple Inc. will post 7.43 EPS for the current fiscal year.

Apple Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 11th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Friday, November 8th. Apple’s dividend payout ratio is 16.45%.

Wall Street Analyst Weigh In

AAPL has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Apple to $275.00 and gave the company a “buy” rating in a report on Monday, December 9th. Jefferies Financial Group cut Apple from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $211.84 to $200.75 in a research report on Tuesday, January 21st. Morgan Stanley reiterated an “overweight” rating and set a $273.00 price target on shares of Apple in a research report on Friday, December 13th. Monness Crespi & Hardt boosted their price target on shares of Apple to $245.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $260.00 price objective on shares of Apple in a research report on Tuesday, January 21st. 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $238.05.

Check Out Our Latest Stock Analysis on Apple

Insider Buying and Selling at Apple

In other news, insider Chris Kondo sold 4,130 shares of the firm’s 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 transaction, the insider now owns 15,419 shares of the company’s stock, valued at $3,528,946.53. This trade represents a 21.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Apple (NASDAQ:AAPL)

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