Steele Capital Management Inc. Sells 910 Shares of Apple Inc. (NASDAQ:AAPL)

Steele Capital Management Inc. lessened its holdings in Apple Inc. (NASDAQ:AAPL) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,207 shares of the iPhone maker’s stock after selling 910 shares during the quarter. Apple makes up approximately 1.6% of Steele Capital Management Inc.’s investment portfolio, making the stock its 19th largest position. Steele Capital Management Inc.’s holdings in Apple were worth $30,804,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Rooted Wealth Advisors Inc. raised its position in shares of Apple by 14.9% during the second quarter. Rooted Wealth Advisors Inc. now owns 13,702 shares of the iPhone maker’s stock worth $3,072,000 after acquiring an additional 1,776 shares during the last quarter. New Millennium Group LLC increased its position in Apple by 35.6% during the 2nd quarter. New Millennium Group LLC now owns 51,995 shares of the iPhone maker’s stock valued at $10,951,000 after purchasing an additional 13,638 shares during the period. Catalyst Capital Advisors LLC raised its holdings in Apple by 2.6% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 21,069 shares of the iPhone maker’s stock worth $4,438,000 after purchasing an additional 524 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in Apple by 3.3% during the 2nd quarter. Proficio Capital Partners LLC now owns 106,350 shares of the iPhone maker’s stock worth $22,400,000 after purchasing an additional 3,386 shares during the last quarter. Finally, IMA Advisory Services Inc. lifted its position in shares of Apple by 2.3% in the 2nd quarter. IMA Advisory Services Inc. now owns 39,261 shares of the iPhone maker’s stock worth $8,269,000 after purchasing an additional 900 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of the business’s 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 of the company’s stock, valued at approximately $97,474,301.68. The trade was a 20.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $945,233.10. Following the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

Apple Trading Up 0.5 %

NASDAQ: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 firm has a 50-day moving average price of $241.17 and a two-hundred day moving average price of $230.75. The firm has a market cap of $3.60 trillion, a price-to-earnings ratio of 39.37, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.83 and a current ratio of 0.87.

Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 EPS for the quarter, beating analysts’ consensus estimates 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 business posted $1.46 earnings per share. Apple’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts expect that Apple Inc. will post 7.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on AAPL. Sanford C. Bernstein increased their price objective on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Oppenheimer downgraded Apple from an “outperform” rating to a “market perform” rating in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Apple in a research note on Tuesday, January 21st. Piper Sandler reaffirmed a “neutral” rating and set a $225.00 target price on shares of Apple in a research note on Wednesday, October 9th. Finally, Citigroup boosted their price target on Apple to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $238.05.

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.