Freedom Investment Management Inc. Has $12.37 Million Holdings in Apple Inc. (NASDAQ:AAPL)

Freedom Investment Management Inc. trimmed its position in Apple Inc. (NASDAQ:AAPL) by 18.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,075 shares of the iPhone maker’s stock after selling 11,635 shares during the quarter. Apple makes up approximately 1.0% of Freedom Investment Management Inc.’s portfolio, making the stock its 17th largest position. Freedom Investment Management Inc.’s holdings in Apple were worth $12,367,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bull Oak Capital LLC increased its stake in Apple by 252.3% in the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after buying an additional 111 shares during the period. Hershey Financial Advisers LLC purchased a new position in shares of Apple during the 2nd quarter valued at $42,000. Christopher J. Hasenberg Inc increased 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 worth $69,000 after acquiring an additional 144 shares during the last quarter. ARK Investment Management LLC purchased a new stake in shares of Apple during the third quarter worth $110,000. Finally, Cordant Inc. boosted its position in Apple by 34.3% during the third quarter. Cordant Inc. now owns 678 shares of the iPhone maker’s stock valued at $158,000 after purchasing an additional 173 shares during the last quarter. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays increased their price objective on Apple from $183.00 to $197.00 and gave the stock an “underweight” rating in a report on Friday, January 31st. The Goldman Sachs Group raised 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. Sanford C. Bernstein upped their price objective on shares of Apple from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Oppenheimer downgraded shares of Apple from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Finally, Monness Crespi & Hardt boosted their price target on Apple to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $242.52.

Insider Activity

In related news, insider Chris Kondo sold 4,130 shares of the stock in a transaction that occurred 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. This represents a 21.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey E. Williams sold 100,000 shares of the company’s 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 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 disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.

Apple Stock Performance

NASDAQ AAPL opened at $232.80 on Wednesday. The stock has a market cap of $3.50 trillion, a PE ratio of 36.95, a P/E/G ratio of 2.36 and a beta of 1.20. 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 firm has a 50-day moving average of $241.58 and a 200-day moving average of $230.89. Apple Inc. has a 52-week low of $164.07 and a 52-week high of $260.10.

Apple (NASDAQ:AAPL) last posted its earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. On average, sell-side analysts anticipate that Apple Inc. will post 7.33 EPS for the current year.

Apple Dividend Announcement

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