Baldwin Investment Management LLC Sells 352 Shares of Apple Inc. (NASDAQ:AAPL)

Baldwin Investment Management LLC lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL) by 0.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 73,567 shares of the iPhone maker’s stock after selling 352 shares during the quarter. Apple accounts for about 2.1% of Baldwin Investment Management LLC’s investment portfolio, making the stock its 3rd largest holding. Baldwin Investment Management LLC’s holdings in Apple were worth $17,141,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Bull Oak Capital LLC boosted its holdings in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares during the period. Hershey Financial Advisers LLC acquired a new position in shares of Apple during the second quarter worth $42,000. Christopher J. Hasenberg Inc boosted its stake in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock valued at $69,000 after purchasing an additional 144 shares during the period. ARK Investment Management LLC acquired a new stake in Apple during the 3rd quarter valued at $110,000. Finally, Cordant Inc. increased its stake in Apple by 34.3% during the 3rd quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock worth $158,000 after buying an additional 173 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AAPL. Barclays raised their target price on Apple from $183.00 to $197.00 and gave the company an “underweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on Apple from $260.00 to $270.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Raymond James upped their target price on Apple to $250.00 and gave the company a “buy” rating in a research report on Monday, January 20th. StockNews.com downgraded shares of Apple from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group upped their price target on shares of Apple from $280.00 to $294.00 and gave the company a “buy” rating in a report on Friday, January 31st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $242.52.

Insider Activity at Apple

In other news, insider Chris Kondo sold 4,130 shares of the business’s stock in a transaction on Monday, November 18th. The shares were 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 of the company’s stock, valued at $3,528,946.53. The trade was a 21.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeffrey E. Williams sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at $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 currently owned by corporate insiders.

Apple Stock Up 2.1 %

NASDAQ AAPL opened at $232.80 on Wednesday. The stock has a market capitalization of $3.50 trillion, a P/E ratio of 36.95, a price-to-earnings-growth ratio of 2.36 and a beta of 1.20. Apple Inc. has a 52 week low of $164.07 and a 52 week high of $260.10. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.92. The stock has a fifty day moving average of $241.58 and a 200-day moving average of $230.89.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. On average, equities research analysts forecast that Apple Inc. will post 7.33 EPS for the current year.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.43%. Apple’s dividend payout ratio (DPR) is presently 15.87%.

Apple Company Profile

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.