First Horizon Advisors Inc. Sells 5,992 Shares of Apple Inc. (NASDAQ:AAPL)

First Horizon Advisors Inc. lowered its stake in shares of Apple Inc. (NASDAQ:AAPL) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 338,200 shares of the iPhone maker’s stock after selling 5,992 shares during the quarter. Apple comprises approximately 2.2% of First Horizon Advisors Inc.’s investment portfolio, making the stock its 3rd largest holding. First Horizon Advisors Inc.’s holdings in Apple were worth $78,801,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. High Net Worth Advisory Group LLC increased its holdings in Apple by 1.7% in the 3rd quarter. High Net Worth Advisory Group LLC now owns 64,015 shares of the iPhone maker’s stock worth $14,916,000 after buying an additional 1,066 shares during the period. Granite Investment Partners LLC increased its holdings in Apple by 2.7% in the 2nd quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after buying an additional 7,606 shares during the period. Amara Financial LLC. acquired a new position in Apple in the 3rd quarter worth approximately $288,000. Truist Financial Corp increased its holdings in Apple by 1.8% in the 2nd quarter. Truist Financial Corp now owns 6,994,703 shares of the iPhone maker’s stock worth $1,473,224,000 after buying an additional 126,210 shares during the period. Finally, Sterling Investment Counsel LLC increased its holdings in 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 during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeffrey E. Williams sold 100,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $97,474,301.68. This trade represents a 20.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris Kondo sold 4,130 shares of the firm’s 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. This trade represents a 21.13 % 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.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Maxim Group upped their price objective on Apple from $203.00 to $215.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Loop Capital lowered Apple from a “buy” rating to a “hold” rating and set a $230.00 price objective on the stock. in a research report on Tuesday, January 21st. TD Cowen restated a “buy” rating on shares of Apple in a research report on Tuesday. Sanford C. Bernstein upped their price objective on Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Wedbush reiterated an “outperform” rating and set a $325.00 target price on shares of Apple in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $238.05.

Apple Stock Up 0.5 %

Shares of AAPL opened at $239.36 on Thursday. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10. The company has a market capitalization of $3.60 trillion, a PE ratio of 39.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The stock has a fifty day simple moving average of $241.17 and a two-hundred day simple moving average of $230.75. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51.

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

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.